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

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 value 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 stock was 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 shares were sold at an average price of $317.00, for a total transaction 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 transaction 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.

Arista Networks Stock Performance

ANET stock opened at $365.42 on Thursday. The firm has a market cap of $114.51 billion, a PE ratio of 50.89, a PEG ratio of 3.15 and a beta of 1.11. Arista Networks, Inc. has a one year low of $149.10 and a one year high of $365.42. The firm’s 50 day moving average price is $307.75 and its 200-day moving average price is $281.44.

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

Arista Networks declared that its board has authorized a stock repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the first quarter valued at approximately $26,000. Financial Synergies Wealth Advisors Inc. boosted its position in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the period. Alaska Permanent Fund Corp acquired a new position in shares of Arista Networks in the first quarter worth $37,000. Riverview Trust Co acquired a new stake in shares of Arista Networks in the first quarter valued at $40,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in Arista Networks in the first quarter valued at $42,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Piper Sandler upped their price target on Arista Networks from $268.00 to $302.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Citigroup lifted their price target on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Evercore ISI upped their price target on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $311.50.

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.