Arista Networks, Inc. (NYSE:ANET) CEO Sells $1,212,559.58 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 4,042 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $299.99, for a total transaction of $1,212,559.58. Following the completion of the sale, the chief executive officer now directly owns 1,628,532 shares in the company, valued at $488,543,314.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 value 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 transaction 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 transaction 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 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 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 transaction 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.
• On Monday, January 29th, Jayshree Ullal sold 980 shares of Arista Networks stock. The shares were 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 shares were sold at an average price of $268.15, for a total transaction of $196,553.95.

Arista Networks Price Performance

NYSE:ANET opened at $271.22 on Friday. The firm has a market capitalization of $84.79 billion, a P/E ratio of 41.28, a P/E/G ratio of 2.56 and a beta of 1.09. The business has a 50 day simple moving average of $281.78 and a 200 day simple moving average of $242.41. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Morgan Stanley increased their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, KeyCorp increased their target price on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. NBC Securities Inc. grew its holdings in Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after buying an additional 38 shares in the last quarter. BOKF NA grew its stake in shares of Arista Networks by 0.6% in the fourth quarter. BOKF NA now owns 6,900 shares of the technology company’s stock worth $1,625,000 after purchasing an additional 38 shares in the last quarter. Sandy Spring Bank increased its holdings in shares of Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after purchasing an additional 39 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Arista Networks by 6.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Arista Networks by 31.0% in the fourth quarter. Harbour Investments Inc. now owns 165 shares of the technology company’s stock worth $39,000 after purchasing an additional 39 shares during the period. 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.