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 firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now owns 1,595,800 shares of the company’s stock, valued at approximately $569,700,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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.
• 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 stock was 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 shares were 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 shares were sold at an average price of $299.99, for a total value of $1,212,559.58.

Arista Networks Price Performance

ANET stock opened at $365.42 on Thursday. Arista Networks, Inc. has a 1-year low of $149.10 and a 1-year high of $365.42. The stock has a market capitalization of $114.51 billion, a P/E ratio of 50.89, a P/E/G ratio of 3.15 and a beta of 1.11. The business has a fifty day moving average price of $307.75 and a 200-day moving average price of $281.44.

Arista Networks (NYSE:ANET) last released 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 during the quarter, compared to analysts’ expectations of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. As a group, analysts anticipate that Arista Networks, Inc. will post 7.05 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ANET shares. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Morgan Stanley raised their price objective on Arista Networks from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Barclays raised their price target on Arista Networks from $311.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Citigroup boosted their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Bank of America raised their target price on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $311.50.

Institutional Investors Weigh In On Arista Networks

Large investors have recently made changes to their positions in the company. Beese Fulmer Investment Management Inc. purchased a new position in shares of Arista Networks in the second quarter worth approximately $11,599,000. M&R Capital Management Inc. boosted its stake in shares of Arista Networks by 11.8% during the 2nd quarter. M&R Capital Management Inc. now owns 4,418 shares of the technology company’s stock worth $1,548,000 after acquiring an additional 468 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Arista Networks by 24.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the technology company’s stock valued at $229,000 after acquiring an additional 130 shares during the period. GAMMA Investing LLC raised its holdings in Arista Networks by 39.3% in the 2nd quarter. GAMMA Investing LLC now owns 3,264 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 921 shares during the period. Finally, Capital Market Strategies LLC grew its holdings in Arista Networks by 34.2% during the second quarter. Capital Market Strategies LLC now owns 1,231 shares of the technology company’s stock valued at $431,000 after purchasing an additional 314 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.