Jayshree Ullal Sells 1,500 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $258.77, for a total value of $388,155.00. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,575,312.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 value of $6,986,880.00.
• On Monday, April 1st, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The stock was sold at an average price of $292.28, for a total value of $7,014,720.00.
• On Wednesday, March 27th, Jayshree Ullal sold 23,000 shares of Arista Networks stock. The shares were sold at an average price of $296.24, for a total transaction of $6,813,520.00.
• On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The stock was sold at an average price of $301.45, for a total transaction of $6,631,900.00.
• On Friday, March 22nd, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00.
• On Wednesday, March 20th, Jayshree Ullal sold 21,000 shares of Arista Networks stock. The stock was 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 shares were 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 transaction of $24,373,012.58.

Arista Networks Stock Performance

NYSE:ANET traded up $4.42 during mid-day trading on Monday, reaching $278.82. 2,030,771 shares of the company’s stock were exchanged, compared to its average volume of 2,450,893. The firm has a market capitalization of $87.17 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. The business’s fifty day simple moving average is $279.07 and its two-hundred day simple moving average is $250.02. Arista Networks, Inc. has a one year low of $133.42 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on ANET shares. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. JMP Securities reiterated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Barclays raised their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $285.53.

Hedge Funds Weigh In On Arista Networks

A number of institutional investors have recently modified their holdings of ANET. FMR LLC lifted its position in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Norges Bank purchased a new stake in shares of Arista Networks in the fourth quarter valued at about $586,051,000. Vanguard Group Inc. raised its holdings in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after purchasing an additional 1,025,815 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Arista Networks by 25,188.0% during the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock valued at $1,445,420,000 after buying an additional 611,312 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.