Jayshree Ullal Sells 20,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $217.00, for a total transaction of $4,340,000.00. Following the transaction, the chief executive officer now owns 1,723,500 shares of the company’s stock, valued at $373,999,500. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 2nd, Jayshree Ullal sold 22,500 shares of Arista Networks stock. The stock was sold at an average price of $211.30, for a total transaction of $4,754,250.00.
• On Tuesday, October 31st, Jayshree Ullal sold 17,000 shares of Arista Networks stock. The stock was sold at an average price of $199.07, for a total transaction of $3,384,190.00.
• On Thursday, August 24th, Jayshree Ullal sold 16,500 shares of Arista Networks stock. The stock was sold at an average price of $192.22, for a total transaction of $3,171,630.00.
• On Tuesday, August 22nd, Jayshree Ullal sold 16,000 shares of Arista Networks stock. The stock was sold at an average price of $187.11, for a total transaction of $2,993,760.00.

Arista Networks Trading Up 0.6 %

NYSE ANET opened at $214.63 on Friday. The company’s fifty day simple moving average is $193.50 and its 200-day simple moving average is $175.29. Arista Networks, Inc. has a 52 week low of $107.57 and a 52 week high of $218.36. The stock has a market cap of $66.77 billion, a P/E ratio of 35.77, a PEG ratio of 1.87 and a beta of 1.12.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cibc World Market Inc. boosted its stake in Arista Networks by 135.9% during the 1st quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after acquiring an additional 19,602 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Arista Networks by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after acquiring an additional 19,738 shares during the last quarter. Prudential PLC bought a new position in Arista Networks during the 1st quarter valued at $676,000. Sequoia Financial Advisors LLC bought a new position in Arista Networks during the 1st quarter valued at $224,000. Finally, Vanguard Group Inc. boosted its stake in Arista Networks by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the last quarter. 67.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Arista Networks from $190.00 to $209.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Rosenblatt Securities boosted their target price on shares of Arista Networks from $190.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Needham & Company LLC boosted their target price on shares of Arista Networks from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 10th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Finally, KeyCorp boosted their target price on shares of Arista Networks from $217.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. Three research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $214.72.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.