Jayshree Ullal Sells 836 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 836 shares of Arista Networks stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,836,889.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was sold at an average price of $337.23, for a total transaction of $280,575.36.
• On Wednesday, August 21st, Jayshree Ullal sold 17,752 shares of Arista Networks stock. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08.
• 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.

Arista Networks Price Performance

ANET traded up $5.86 on Friday, reaching $395.97. 1,064,956 shares of the company traded hands, compared to its average volume of 2,263,464. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $396.80. The company has a market cap of $124.08 billion, a price-to-earnings ratio of 55.15, a PEG ratio of 3.04 and a beta of 1.07. The stock’s 50 day moving average price is $351.55 and its 200-day moving average price is $324.25.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company earned $1.41 earnings per share. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks in the first quarter worth about $26,000. Beacon Capital Management LLC grew its holdings in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. raised 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 period. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth $33,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ANET shares. Citigroup raised their target price on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Rosenblatt Securities upped their price objective on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Barclays raised their target price on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler upped their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

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.