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

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,759 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $400.22, for a total transaction of $7,107,506.98. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were 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 value 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 value of $280,575.36.

Arista Networks Stock Down 1.6 %

Shares of NYSE:ANET traded down $6.69 during midday trading on Monday, reaching $399.79. The company’s stock had a trading volume of 2,400,336 shares, compared to its average volume of 2,239,958. The stock has a fifty day moving average of $394.02 and a 200 day moving average of $354.66. Arista Networks, Inc. has a twelve month low of $210.69 and a twelve month high of $431.97. The firm has a market capitalization of $125.91 billion, a PE ratio of 48.05, a P/E/G ratio of 3.28 and a beta of 1.08.

Arista Networks’s stock is scheduled to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the market closes on Tuesday, December 3rd.

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

Institutional Trading of Arista Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. increased its holdings in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC increased its stake in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. First Affirmative Financial Network raised its position in shares of Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. Altman Advisors Inc. boosted its holdings in Arista Networks by 0.5% in the 3rd 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 during the last quarter. Finally, FCG Investment Co increased its stake in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ANET. Evercore ISI lifted their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their target price on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. UBS Group lifted their price target on shares of Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.19.

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.