Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells $7,218,305.82 in Stock

Arista Networks, Inc. (NYSE:ANETGet Free Report) CEO Jayshree Ullal sold 23,958 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $301.29, for a total transaction of $7,218,305.82. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $3,012,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, May 13th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $312.07, for a total value of $6,241,400.00.
  • On Thursday, May 2nd, Jayshree Ullal sold 1,500 shares of Arista Networks stock. The shares were sold at an average price of $258.77, for a total value of $388,155.00.
  • 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 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 shares were 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 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 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 transaction of $5,648,200.00.

Arista Networks Stock Down 1.8 %

NYSE ANET opened at $320.21 on Friday. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $329.04. The business has a 50-day moving average price of $283.10 and a 200-day moving average price of $256.53. The firm has a market cap of $100.34 billion, a price-to-earnings ratio of 44.60, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. Research analysts expect that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a share buyback program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Wednesday, May 8th. Barclays upped their price target on shares of Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. KeyCorp raised their price objective on shares of Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Wells Fargo & Company upped their target price on shares of Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.00.

Check Out Our Latest Stock Analysis on ANET

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of ANET. Hancock Whitney Corp lifted its stake in Arista Networks by 2.8% in the 1st quarter. Hancock Whitney Corp now owns 36,461 shares of the technology company’s stock worth $10,573,000 after purchasing an additional 977 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Arista Networks by 62.1% in the first quarter. Tidal Investments LLC now owns 33,672 shares of the technology company’s stock worth $9,763,000 after buying an additional 12,906 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in Arista Networks by 13.3% during the 1st quarter. Motley Fool Asset Management LLC now owns 10,403 shares of the technology company’s stock valued at $3,017,000 after buying an additional 1,218 shares in the last quarter. California State Teachers Retirement System increased its stake in Arista Networks by 1.1% in the 1st quarter. California State Teachers Retirement System now owns 423,394 shares of the technology company’s stock worth $122,776,000 after acquiring an additional 4,517 shares during the last quarter. Finally, BTG Pactual Global Asset Management Ltd purchased a new stake in shares of Arista Networks during the 1st quarter worth approximately $922,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Company Profile

(Get Free Report)

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.

Read More

Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.