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

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

Arista Networks Price Performance

Shares of NYSE:ANET opened at $91.50 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57. The firm has a market capitalization of $115.40 billion, a PE ratio of 41.22, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50 day moving average price is $112.19 and its 200-day moving average price is $102.02.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On Arista Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC increased its holdings in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares during the last quarter. Altman Advisors Inc. lifted its position in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares in the last quarter. HM Payson & Co. boosted its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the last quarter. Finally, Beacon Financial Advisory LLC grew its holdings in Arista Networks by 4.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 640 shares of the technology company’s stock valued at $246,000 after buying an additional 30 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ANET shares. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. UBS Group lifted their price objective on shares of Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley raised their target price on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price target on Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus 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.