Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 17,752 Shares

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 2nd, Jayshree Ullal sold 832 shares of Arista Networks stock. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84.
• On Monday, July 1st, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00.
• On Thursday, June 27th, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00.
• On Tuesday, June 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was sold at an average price of $293.14, for a total value of $243,892.48.

Arista Networks Stock Performance

NYSE ANET traded up $2.96 on Friday, reaching $355.13. The company’s stock had a trading volume of 964,267 shares, compared to its average volume of 2,402,217. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The firm’s 50 day moving average is $343.38 and its two-hundred day moving average is $305.90. The stock has a market cap of $111.28 billion, a PE ratio of 49.46, a PEG ratio of 2.70 and a beta of 1.11.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 7.29 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share buyback program on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Arista Networks by 7.4% in the 4th quarter. International Assets Investment Management LLC now owns 2,606 shares of the technology company’s stock worth $614,000 after purchasing an additional 179 shares in the last quarter. CWM LLC boosted its holdings in shares of Arista Networks by 12.6% in the fourth quarter. CWM LLC now owns 14,833 shares of the technology company’s stock worth $3,493,000 after buying an additional 1,664 shares during the period. OLD National Bancorp IN purchased a new position in shares of Arista Networks in the fourth quarter worth approximately $235,000. Larson Financial Group LLC raised its holdings in shares of Arista Networks by 30.9% during the fourth quarter. Larson Financial Group LLC now owns 199 shares of the technology company’s stock valued at $47,000 after acquiring an additional 47 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in shares of Arista Networks by 12.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 516 shares of the technology company’s stock valued at $122,000 after acquiring an additional 57 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Finally, UBS Group lifted their price target on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $353.38.

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.