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

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the sale, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, June 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The shares were sold at an average price of $293.14, for a total value of $243,892.48.
• On Wednesday, May 22nd, Jayshree Ullal sold 17,759 shares of Arista Networks stock. The shares were sold at an average price of $319.15, for a total value of $5,667,784.85.
• On Wednesday, May 15th, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The stock was sold at an average price of $317.00, for a total value 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 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.

Arista Networks Trading Up 1.7 %

Shares of NYSE ANET traded up $6.13 during mid-day trading on Monday, reaching $356.61. The company had a trading volume of 1,629,551 shares, compared to its average volume of 2,516,509. The stock has a market cap of $111.75 billion, a PE ratio of 49.68, a P/E/G ratio of 3.09 and a beta of 1.11. The company has a 50-day moving average price of $303.42 and a two-hundred day moving average price of $279.70. Arista Networks, Inc. has a 1-year low of $149.10 and a 1-year high of $357.57.

Arista Networks (NYSE:ANET) last issued its 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 analysts’ expectations of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. On average, research analysts expect that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks announced that its Board of Directors has approved a stock buyback program on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted 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 during the last quarter. Capital World Investors boosted its position in Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after purchasing an additional 55,312 shares during the last quarter. WCM Investment Management LLC boosted its position in Arista Networks by 0.8% during the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares during the last quarter. GQG Partners LLC acquired a new stake in Arista Networks during the first quarter valued at $881,848,000. Finally, Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter worth about $586,051,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ANET shares. Evercore ISI raised their price target on Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Wells Fargo & Company raised their price target on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Barclays lifted their target price on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Wednesday, May 8th. Finally, KeyCorp lifted their target price on Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.