Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells 25,000 Shares of Stock

Arista Networks, Inc. (NYSE:ANET - Get Free Report) CEO Jayshree Ullal sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $317.00, for a total value of $7,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,615,800 shares of the company's stock, valued at approximately $512,208,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 stock was 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 stock was sold at an average price of $258.77, for a total value 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 value of $1,212,559.58.
• On Wednesday, April 3rd, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The stock was sold at an average price of $291.12, for a total value of $6,986,880.00.
• On Monday, April 1st, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The stock was sold at an average price of $292.28, for a total value of $7,014,720.00.
• On Wednesday, March 27th, Jayshree Ullal sold 23,000 shares of Arista Networks stock. The shares were sold at an average price of $296.24, for a total value of $6,813,520.00.
• On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $301.45, for a total value of $6,631,900.00.
• On Friday, March 22nd, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00.
• On Wednesday, March 20th, Jayshree Ullal sold 21,000 shares of Arista Networks stock. The shares were sold at an average price of $289.06, for a total value of $6,070,260.00.

Arista Networks Stock Performance

ANET stock traded down $0.20 during mid-day trading on Friday, reaching $319.89. 1,660,708 shares of the stock traded hands, compared to its average volume of 2,541,631. The stock has a market capitalization of $100.24 billion, a PE ratio of 44.82, a PEG ratio of 2.95 and a beta of 1.13. The business has a 50-day moving average price of $283.10 and a two-hundred day moving average price of $256.53. Arista Networks, Inc. has a one year low of $133.42 and a one year high of $329.04.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm earned $1.25 EPS. The company's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks declared that its board has approved a stock repurchase program on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp upped their price target on Arista Networks from $306.00 to $349.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 8th. The Goldman Sachs Group upped their price target on Arista Networks from $313.00 to $356.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their price target on Arista Networks from $297.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Barclays upped their price target on Arista Networks from $311.00 to $320.00 and gave the stock an "overweight" rating in a research note on Thursday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $320.00 target price on shares of Arista Networks in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $293.00.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. bought a new position in Arista Networks in the first quarter worth approximately $26,000. Financial Synergies Wealth Advisors Inc. boosted its position in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company's stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Alaska Permanent Fund Corp bought a new stake in Arista Networks during the first quarter valued at about $37,000. Riverview Trust Co acquired a new stake in Arista Networks in the first quarter worth about $40,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Arista Networks in the first quarter worth about $42,000. 82.47% of the stock is owned by institutional investors.

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.

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