Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 17,759 Shares

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,759 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $400.22, for a total value of $7,107,506.98. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was sold at an average price of $397.39, for a total value of $330,628.48.
• On Wednesday, October 2nd, Jayshree Ullal sold 836 shares of Arista Networks stock. The stock was sold at an average price of $386.68, for a total value of $323,264.48.
• 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 value of $280,575.36.

Arista Networks Trading Down 1.6 %

Shares of NYSE ANET opened at $399.79 on Tuesday. The stock has a market cap of $125.91 billion, a P/E ratio of 48.05, a PEG ratio of 3.28 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $210.69 and a 12-month high of $431.97. The business’s fifty day simple moving average is $394.02 and its 200-day simple moving average is $354.66.

Arista Networks shares are scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be distributed to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $1.63 earnings per share. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 7.75 EPS for the current fiscal year.

Institutional Trading of Arista Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. increased its position in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Intellectus Partners LLC increased its position in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. First Affirmative Financial Network increased its position in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares in the last quarter. Altman Advisors Inc. increased its position in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares in the last quarter. Finally, FCG Investment Co increased its position in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays increased their price objective on Arista Networks from $341.00 to $495.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Evercore ISI increased their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler reiterated a “neutral” rating and issued a $421.00 price objective (up from $345.00) on shares of Arista Networks in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $395.19.

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.