Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 25,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. 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 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.
• On Wednesday, May 22nd, Jayshree Ullal sold 17,759 shares of Arista Networks stock. The shares were sold at an average price of $319.15, for a total transaction of $5,667,784.85.
• On Wednesday, May 15th, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The shares were sold at an average price of $317.00, for a total transaction of $7,925,000.00.
• 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 transaction of $6,241,400.00.
• On Friday, May 10th, Jayshree Ullal sold 23,958 shares of Arista Networks stock. The stock was sold at an average price of $301.29, for a total value of $7,218,305.82.
• On Thursday, May 2nd, Jayshree Ullal sold 1,500 shares of Arista Networks stock. The stock was 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 stock was sold at an average price of $299.99, for a total value 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.

Arista Networks Price Performance

Shares of ANET stock opened at $356.61 on Tuesday. The firm has a market cap of $111.75 billion, a P/E ratio of 49.67, a PEG ratio of 3.09 and a beta of 1.11. Arista Networks, Inc. has a fifty-two week low of $149.10 and a fifty-two week high of $357.57. The stock’s 50-day moving average is $303.42 and its two-hundred day moving average is $279.70.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.24. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. As a group, research analysts expect that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks declared that its board has approved a stock buyback program on Tuesday, May 7th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on the stock. KeyCorp increased their target price on shares of Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $320.00 in a research note on Friday, May 3rd. Morgan Stanley upped their target price on Arista Networks from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, June 12th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $311.50.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks during the 1st quarter worth $26,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Atticus Wealth Management LLC increased its stake in shares of Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Arista Networks during the 4th quarter worth about $35,000. Finally, Sandy Spring Bank boosted its stake in Arista Networks by 33.6% during the 4th 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. 82.47% of the stock is currently owned by institutional investors.

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.