Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal Sells 17,759 Shares

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,759 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $400.22, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $7,076,289.82. The trade was a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was sold at an average price of $397.39, for a total transaction of $330,628.48.
• On Wednesday, October 2nd, Jayshree Ullal sold 836 shares of Arista Networks stock. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48.
• On Tuesday, September 3rd, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was sold at an average price of $337.23, for a total transaction of $280,575.36.

Arista Networks Stock Down 1.5 %

Shares of ANET opened at $402.26 on Thursday. The company’s fifty day moving average is $395.77 and its 200-day moving average is $355.65. Arista Networks, Inc. has a 12 month low of $210.69 and a 12 month high of $431.97. The firm has a market cap of $126.69 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08.

Arista Networks shares are scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business posted $1.63 EPS. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, research analysts predict that Arista Networks, Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays upped their price target on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler restated a “neutral” rating and issued a $421.00 price target (up previously from $345.00) on shares of Arista Networks in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $395.19.

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently bought and sold shares of ANET. GW Henssler & Associates Ltd. increased its stake in Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares during the period. Deepwater Asset Management LLC bought a new stake in Arista Networks in the second quarter valued at about $15,084,000. Sumitomo Life Insurance Co. increased its stake in Arista Networks by 69.8% in the third quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock valued at $3,465,000 after acquiring an additional 3,711 shares during the period. Walkner Condon Financial Advisors LLC bought a new stake in Arista Networks in the third quarter valued at about $2,318,000. Finally, Cetera Advisors LLC increased its stake in Arista Networks by 185.8% in the first quarter. Cetera Advisors LLC now owns 17,032 shares of the technology company’s stock valued at $4,939,000 after acquiring an additional 11,073 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.