Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 23,958 Shares

Arista Networks, Inc. (NYSE:ANETGet Free Report) CEO Jayshree Ullal sold 23,958 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $301.29, for a total value of $7,218,305.82. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $3,012,900. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • On Thursday, May 2nd, Jayshree Ullal sold 1,500 shares of Arista Networks stock. The stock was sold at an average price of $258.77, for a total value of $388,155.00.
  • On Tuesday, April 9th, Jayshree Ullal sold 4,042 shares of Arista Networks stock. The stock was sold at an average price of $299.99, for a total value of $1,212,559.58.
  • On Wednesday, April 3rd, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The shares were sold at an average price of $291.12, for a total transaction of $6,986,880.00.
  • On Monday, April 1st, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The stock was sold at an average price of $292.28, for a total value of $7,014,720.00.
  • On Wednesday, March 27th, Jayshree Ullal sold 23,000 shares of Arista Networks stock. The stock was sold at an average price of $296.24, for a total value of $6,813,520.00.
  • On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The stock was sold at an average price of $301.45, for a total transaction of $6,631,900.00.
  • On Friday, March 22nd, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The stock was 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 stock was 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 transaction of $24,373,012.58.

Arista Networks Price Performance

Arista Networks stock opened at $313.66 on Wednesday. The stock has a market capitalization of $98.29 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 2.94 and a beta of 1.13. Arista Networks, Inc. has a 12 month low of $133.42 and a 12 month high of $316.22. The business has a 50 day simple moving average of $280.93 and a 200-day simple moving average of $254.63.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.8 EPS for the current year.

Arista Networks declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Wednesday, May 8th. Finally, Jefferies Financial Group upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $240.00 to $320.00 in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $293.00.

View Our Latest Analysis on ANET

Hedge Funds Weigh In On Arista Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter worth about $26,000. Larson Financial Group LLC acquired a new position in Arista Networks in the 3rd quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks in the third quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. boosted its position in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in Arista Networks in the third quarter valued at $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

About Arista Networks

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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