Jayshree Ullal Sells 22,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares in the company, valued at $504,585,900. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 transaction of $6,631,900.00.
• 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 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 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 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.
• On Monday, January 22nd, Jayshree Ullal sold 8,002 shares of Arista Networks stock. The shares were sold at an average price of $267.39, for a total transaction of $2,139,654.78.
• On Thursday, January 18th, Jayshree Ullal sold 18,621 shares of Arista Networks stock. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60.
• On Tuesday, January 9th, Jayshree Ullal sold 670 shares of Arista Networks stock. The shares were sold at an average price of $247.46, for a total transaction of $165,798.20.

Arista Networks Trading Down 3.2 %

Shares of ANET stock opened at $288.41 on Thursday. The company’s 50-day moving average price is $274.45 and its 200-day moving average price is $232.99. The stock has a market cap of $90.17 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 2.64 and a beta of 1.10. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve 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 for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays lifted their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Melius Research raised shares of 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. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new position in Arista Networks in the fourth quarter valued at about $35,000. Atticus Wealth Management LLC lifted its position in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after buying an additional 145 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Arista Networks during the third quarter worth about $28,000. Sandy Spring Bank increased its stake in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in Arista Networks during the third quarter worth about $29,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.