Insider Selling: Arista Networks Inc (NYSE:ANET) CEO Sells 1,375 Shares of Stock

Arista Networks Inc (NYSE:ANET) CEO Jayshree Ullal sold 1,375 shares of Arista Networks stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $207.91, for a total transaction of $285,876.25. Following the transaction, the chief executive officer now directly owns 16,809 shares of the company’s stock, valued at $3,494,759.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

  • On Tuesday, September 1st, Jayshree Ullal sold 2,000 shares of Arista Networks stock. The shares were sold at an average price of $222.58, for a total transaction of $445,160.00.
  • On Monday, August 24th, Jayshree Ullal sold 1,669 shares of Arista Networks stock. The shares were sold at an average price of $219.37, for a total transaction of $366,128.53.
  • On Friday, August 7th, Jayshree Ullal sold 145 shares of Arista Networks stock. The shares were sold at an average price of $235.19, for a total transaction of $34,102.55.

NYSE ANET traded down $5.68 during trading on Thursday, reaching $206.13. 730,889 shares of the stock traded hands, compared to its average volume of 806,842. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 3.04 and a beta of 1.05. The stock’s 50-day moving average price is $227.98 and its 200 day moving average price is $213.94. Arista Networks Inc has a fifty-two week low of $156.63 and a fifty-two week high of $267.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.16. The firm had revenue of $540.60 million during the quarter, compared to analysts’ expectations of $530.56 million. Arista Networks had a net margin of 34.67% and a return on equity of 22.29%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. As a group, equities analysts anticipate that Arista Networks Inc will post 7.47 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in ANET. Public Employees Retirement Association of Colorado lifted its stake in Arista Networks by 2.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 7,756 shares of the technology company’s stock valued at $1,571,000 after buying an additional 201 shares in the last quarter. Aperio Group LLC lifted its stake in Arista Networks by 61.2% in the first quarter. Aperio Group LLC now owns 22,193 shares of the technology company’s stock valued at $4,495,000 after buying an additional 8,425 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Arista Networks by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,988 shares of the technology company’s stock valued at $15,796,000 after buying an additional 338 shares in the last quarter. Arizona State Retirement System lifted its stake in Arista Networks by 20.8% in the first quarter. Arizona State Retirement System now owns 12,307 shares of the technology company’s stock valued at $2,493,000 after buying an additional 2,122 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Arista Networks by 26.7% in the first quarter. Fifth Third Bancorp now owns 564 shares of the technology company’s stock valued at $114,000 after buying an additional 119 shares in the last quarter. 62.49% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on ANET shares. Citigroup lifted their price target on shares of Arista Networks from $245.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley raised their price objective on shares of Arista Networks from $215.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Zacks Investment Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $245.00 price objective for the company in a research report on Monday, June 1st. Needham & Company LLC restated a “hold” rating on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Oppenheimer restated a “hold” rating on shares of Arista Networks in a research report on Wednesday, August 5th. Twenty investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Arista Networks currently has an average rating of “Hold” and an average target price of $218.12.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Insider Buying and Selling by Quarter for Arista Networks (NYSE:ANET)

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