Jayshree Ullal Sells 4,042 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 4,042 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $299.99, for a total transaction of $1,212,559.58. Following the sale, the chief executive officer now owns 1,628,532 shares in the company, valued at $488,543,314.68. The transaction 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 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 shares were sold at an average price of $301.45, for a total value 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 shares were sold at an average price of $289.06, for a total transaction of $6,070,260.00.
• On Monday, March 18th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $282.41, for a total transaction 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.
• 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 transaction of $262,924.20.
• On Thursday, January 25th, Jayshree Ullal sold 733 shares of Arista Networks stock. The stock was sold at an average price of $268.15, for a total value of $196,553.95.

Arista Networks Trading Down 8.5 %

Arista Networks stock opened at $271.43 on Friday. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The firm’s fifty day simple moving average is $281.78 and its 200-day simple moving average is $241.96. The company has a market capitalization of $84.86 billion, a P/E ratio of 41.31, a P/E/G ratio of 2.49 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after acquiring an additional 1,596,040 shares during the period. FMR LLC boosted its stake in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Capital World Investors boosted its stake in Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after purchasing an additional 55,312 shares during the period. State Street Corp grew its holdings in Arista Networks by 3.2% in the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares during the last quarter. Finally, Morgan Stanley increased its position in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock worth $673,412,000 after buying an additional 3,432,952 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANET has been the subject of several analyst reports. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. Piper Sandler boosted their price objective on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. 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. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Finally, KeyCorp raised their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Company Profile

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.