Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells 1,500 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 1,500 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total transaction of $388,155.00. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,575,312.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, April 9th, Jayshree Ullal sold 4,042 shares of Arista Networks stock. The shares were 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 stock was sold at an average price of $291.12, for a total transaction 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 transaction of $7,014,720.00.
• On Wednesday, March 27th, Jayshree Ullal sold 23,000 shares of Arista Networks stock. The stock was sold at an average price of $296.24, for a total transaction 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 transaction 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 transaction of $6,070,260.00.
• On Monday, March 18th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The stock was sold at an average price of $282.41, for a total value of $5,648,200.00.
• On Friday, March 15th, Jayshree Ullal sold 87,418 shares of Arista Networks stock. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58.

Arista Networks Trading Up 6.5 %

Arista Networks stock opened at $291.67 on Thursday. The firm has a market capitalization of $91.19 billion, a P/E ratio of 44.39, a PEG ratio of 2.33 and a beta of 1.13. The business has a 50-day moving average of $279.22 and a 200-day moving average of $251.25. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Research analysts anticipate that Arista Networks, Inc. will post 6.74 EPS for the current fiscal year.

Arista Networks announced that its board has initiated a stock buyback 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 repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Arista Networks

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Norges Bank bought a new position in Arista Networks in the 4th quarter valued at about $586,051,000. 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 valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Arista Networks by 439.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after buying an additional 1,025,815 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Arista Networks by 25,188.0% during the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after acquiring an additional 611,312 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ANET shares. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a report on Wednesday. Piper Sandler upped their target price on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.50.

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.