Arista Networks, Inc. (NYSE:ANET) CEO Sells $388,155.00 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 1,500 shares of Arista Networks stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $258.77, for a total value of $388,155.00. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,575,312.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 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 stock was 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 stock was sold at an average price of $289.06, for a total value of $6,070,260.00.
• On Monday, March 18th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $282.41, for a total transaction of $5,648,200.00.
• On Friday, March 15th, Jayshree Ullal sold 87,418 shares of Arista Networks stock. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58.

Arista Networks Trading Up 6.5 %

Arista Networks stock opened at $291.67 on Thursday. Arista Networks, Inc. has a 1-year low of $133.42 and a 1-year high of $307.74. The company has a fifty day simple moving average of $279.22 and a 200 day simple moving average of $251.25. The company has a market cap of $91.19 billion, a P/E ratio of 44.39, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current year.

Arista Networks announced that its Board of Directors has initiated 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 reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Wells Fargo & Company boosted their price target on shares of Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned 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 a consensus target price of $292.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. grew its position in Arista Networks by 21.5% during the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after buying an additional 38 shares in the last quarter. Sandy Spring Bank increased its position in shares of Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the period. EverSource Wealth Advisors LLC raised its stake in Arista Networks by 6.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its position in Arista Networks by 1.8% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the period. Finally, West Family Investments Inc. grew its stake in Arista Networks by 3.3% during the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.