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 firm’s stock in a transaction dated 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 directly owns 17,681 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Price Performance

Shares of Arista Networks stock opened at $399.79 on Tuesday. Arista Networks, Inc. has a 1 year low of $210.69 and a 1 year high of $431.97. The company has a market capitalization of $125.91 billion, a P/E ratio of 48.05, a P/E/G ratio of 3.28 and a beta of 1.08. The business has a 50 day moving average price of $394.02 and a 200 day moving average price of $354.66.

Arista Networks’s stock is set to split before the market opens on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, research analysts expect that Arista Networks, Inc. will post 7.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Rosenblatt Securities lifted their price objective on Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $395.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Beacon Capital Management LLC raised its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks in the 2nd quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Arista Networks in the 2nd quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.