Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 138,351 Shares of Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 138,351 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the sale, the chief executive officer now owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Arista Networks Stock Performance

Shares of ANET stock opened at $96.43 on Thursday. The company has a market cap of $121.61 billion, a P/E ratio of 43.44, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock has a 50 day simple moving average of $112.54 and a two-hundred day simple moving average of $102.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Arista Networks by 304.2% in the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock valued at $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. FMR LLC grew its stake in Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. Rosenblatt Securities restated a “sell” rating and set a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI raised their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.79.

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.