Jayshree Ullal Sells 25,000 Shares of Arista Networks, Inc. (NYSE:ANET) Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, June 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The shares were 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 transaction 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.
• On Thursday, May 2nd, Jayshree Ullal sold 1,500 shares of Arista Networks stock. The shares were sold at an average price of $258.77, for a total transaction of $388,155.00.
• 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 transaction 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 transaction of $6,986,880.00.

Arista Networks Price Performance

ANET opened at $356.86 on Wednesday. The stock has a market cap of $111.83 billion, a P/E ratio of 49.70, a P/E/G ratio of 3.09 and a beta of 1.11. The firm has a fifty day moving average price of $305.64 and a 200 day moving average price of $280.58. Arista Networks, Inc. has a 1 year low of $149.10 and a 1 year high of $363.28.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.24. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. Equities analysts expect that Arista Networks, Inc. will post 7.05 EPS for the current year.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the period. Capital World Investors raised its position in shares of Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the last quarter. WCM Investment Management LLC lifted its stake in Arista Networks by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after buying an additional 25,196 shares in the last quarter. GQG Partners LLC acquired a new stake in Arista Networks in the 1st quarter worth about $881,848,000. Finally, Norges Bank purchased a new stake in Arista Networks during the 4th quarter worth approximately $586,051,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ANET. KeyCorp boosted their target price on Arista Networks from $306.00 to $349.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of Arista Networks from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Piper Sandler boosted their target price on shares of Arista Networks from $268.00 to $302.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Finally, Wells Fargo & Company raised their target price on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.50.

Arista Networks Company Profile

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.