Arista Networks, Inc. (NYSE:ANET) CEO Sells $388,155.00 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 1,500 shares of Arista Networks stock in a transaction on Thursday, May 2nd. The stock was 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 directly owns 17,681 shares in the company, valued at $4,575,312.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 9th, Jayshree Ullal sold 4,042 shares of Arista Networks stock. The shares were sold at an average price of $299.99, for a total transaction of $1,212,559.58.
• 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 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 shares were 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 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 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 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 Price Performance

Shares of NYSE:ANET traded up $4.42 during trading hours on Monday, hitting $278.82. 2,030,771 shares of the company’s stock traded hands, compared to its average volume of 2,450,893. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $307.74. The business has a fifty day moving average price of $279.07 and a 200-day moving average price of $250.02. The firm has a market capitalization of $87.17 billion, a P/E ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its 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 return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts predict that Arista Networks, Inc. will post 6.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Barclays upped their price target on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. The Goldman Sachs Group boosted their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company boosted their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.53.

Institutional Trading of Arista Networks

A number of large investors have recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in Arista Networks during the first quarter worth $26,000. Larson Financial Group LLC acquired a new position in shares of Arista Networks during the third quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks during the third quarter worth $29,000. Financial Synergies Wealth Advisors Inc. increased its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new position in shares of Arista Networks during the third quarter worth $33,000. Hedge funds and other 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.