Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells $6,666,000.00 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $301.45, for a total value of $6,631,900.00.
• 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 value 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 value of $5,648,200.00.
• On Friday, March 15th, Jayshree Ullal sold 87,418 shares of Arista Networks stock. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58.
• On Monday, January 29th, Jayshree Ullal sold 980 shares of Arista Networks stock. The stock was sold at an average price of $268.29, for a total value of $262,924.20.
• On Thursday, January 25th, Jayshree Ullal sold 733 shares of Arista Networks stock. The stock was sold at an average price of $268.15, for a total value of $196,553.95.
• On Monday, January 22nd, Jayshree Ullal sold 8,002 shares of Arista Networks stock. The stock was sold at an average price of $267.39, for a total value of $2,139,654.78.
• On Thursday, January 18th, Jayshree Ullal sold 18,621 shares of Arista Networks stock. The stock was sold at an average price of $257.60, for a total value of $4,796,769.60.
• On Tuesday, January 9th, Jayshree Ullal sold 670 shares of Arista Networks stock. The stock was sold at an average price of $247.46, for a total value of $165,798.20.

Arista Networks Trading Up 0.5 %

Shares of NYSE:ANET opened at $289.96 on Friday. The stock’s 50-day moving average price is $275.24 and its two-hundred day moving average price is $233.38. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The firm has a market cap of $90.65 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 2.57 and a beta of 1.10.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $1.25 EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. The Goldman Sachs Group upped their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Rosenblatt Securities upped their target price on Arista Networks from $230.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.59.

Hedge Funds Weigh In On Arista Networks

A number of large investors have recently modified their holdings of the company. Nomura Holdings Inc. purchased a new position in shares of Arista Networks in the 4th quarter worth about $1,193,000. HighPoint Advisor Group LLC purchased a new position in shares of Arista Networks in the 4th quarter worth about $2,520,000. PNC Financial Services Group Inc. raised its holdings in shares of Arista Networks by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares during the period. BlueChip Wealth Advisors LLC purchased a new position in shares of Arista Networks in the 4th quarter worth about $217,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 7.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 10,270 shares of the technology company’s stock worth $2,419,000 after purchasing an additional 746 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

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.