Jayshree Ullal Sells 1,500 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 1,500 shares of Arista Networks stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total transaction of $388,155.00. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,575,312.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was 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 shares were 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 shares were sold at an average price of $303.00, for a total transaction 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 stock was sold at an average price of $278.81, for a total value of $24,373,012.58.

Arista Networks Trading Up 1.6 %

Shares of ANET stock opened at $278.82 on Tuesday. The firm’s fifty day moving average price is $279.18 and its two-hundred day moving average price is $250.63. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $307.74. The firm has a market capitalization of $87.17 billion, a P/E ratio of 42.44, a PEG ratio of 2.33 and a beta of 1.13.

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, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Arista Networks’s revenue was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Institutional Trading of Arista Networks

A number of large investors have recently added to or reduced their stakes in ANET. FMR LLC lifted its stake in Arista Networks by 32.2% in 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 last quarter. Norges Bank bought a new position in shares of Arista Networks during the 4th quarter worth approximately $586,051,000. Vanguard Group Inc. increased its holdings in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. Schroder Investment Management Group raised its stake in Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Arista Networks by 25,188.0% during the 4th quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after purchasing an additional 611,312 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ANET shares. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Monday, January 8th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Barclays raised their price target on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.53.

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.