Arista Networks, Inc. (NYSE:ANET) CEO Sells $264,675.84 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The transaction 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 Monday, July 1st, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00.
• On Thursday, June 27th, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The stock was 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 transaction 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 value 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 value of $7,925,000.00.
• On Monday, May 13th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $312.07, for a total value 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.

Arista Networks Stock Performance

NYSE:ANET opened at $334.44 on Friday. The stock has a market capitalization of $104.80 billion, a P/E ratio of 46.58, a PEG ratio of 2.70 and a beta of 1.11. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $376.50. The company has a 50 day moving average price of $333.45 and a 200 day moving average price of $299.52.

Arista Networks (NYSE:ANET) last posted its earnings results 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. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. Research analysts forecast that Arista Networks, Inc. will post 7.29 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on ANET shares. Bank of America lifted their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Citigroup upped their price target on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group lifted their price objective on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. KeyCorp raised their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $353.38.

Institutional Investors Weigh In On Arista Networks

Several large investors have recently added to or reduced their stakes in the business. FCG Investment Co grew its stake in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors boosted its holdings in Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares during the period. Fortitude Family Office LLC grew its stake in Arista Networks by 33.3% during the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in Arista Networks by 4.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC increased its holdings in Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after purchasing an additional 37 shares during the period. 82.47% of the stock is 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.