Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 22,000 Shares

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $301.45, for a total value of $6,631,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,660,800 shares in the company, valued at approximately $500,648,160. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Jayshree Ullal also recently made the following trade(s):

• On Friday, March 22nd, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00.
• On Wednesday, March 20th, Jayshree Ullal sold 21,000 shares of Arista Networks stock. The shares were sold at an average price of $289.06, for a total value of $6,070,260.00.
• On Monday, March 18th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $282.41, for a total value of $5,648,200.00.
• On Friday, March 15th, Jayshree Ullal sold 87,418 shares of Arista Networks stock. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58.
• On Monday, January 29th, Jayshree Ullal sold 980 shares of Arista Networks stock. The stock was sold at an average price of $268.29, for a total value of $262,924.20.
• On Thursday, January 25th, Jayshree Ullal sold 733 shares of Arista Networks stock. The shares were sold at an average price of $268.15, for a total value of $196,553.95.
• On Monday, January 22nd, Jayshree Ullal sold 8,002 shares of Arista Networks stock. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78.
• On Thursday, January 18th, Jayshree Ullal sold 18,621 shares of Arista Networks stock. The stock was sold at an average price of $257.60, for a total value of $4,796,769.60.
• On Tuesday, January 9th, Jayshree Ullal sold 670 shares of Arista Networks stock. The stock was sold at an average price of $247.46, for a total transaction of $165,798.20.

Arista Networks Trading Down 3.2 %

ANET traded down $9.42 during trading on Wednesday, reaching $288.41. 3,187,602 shares of the company’s stock were exchanged, compared to its average volume of 2,507,177. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market capitalization of $90.17 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The firm has a fifty day moving average price of $274.45 and a two-hundred day moving average price of $232.99.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $1.25 EPS. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ANET shares. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Wells Fargo & Company raised their price target on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley raised their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Institutional Trading of Arista Networks

Several institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new stake in shares of Arista Networks in the fourth quarter worth about $1,193,000. HighPoint Advisor Group LLC bought a new position in shares of Arista Networks in the fourth quarter worth approximately $2,520,000. PNC Financial Services Group Inc. grew its holdings in shares of Arista Networks by 7.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares during the last quarter. BlueChip Wealth Advisors LLC bought a new position in shares of Arista Networks in the fourth quarter worth approximately $217,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Arista Networks by 7.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 10,270 shares of the technology company’s stock valued at $2,419,000 after acquiring an additional 746 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.