Arista Networks, Inc. (ANET) Insider Sells $20,424,838.32 in Stock

Arista Networks, Inc. (NYSE:ANET) insider Jayshree Ullal sold 140,696 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $145.17, for a total value of $20,424,838.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Friday, June 9th, Jayshree Ullal sold 18,021 shares of Arista Networks stock. The stock was sold at an average price of $157.44, for a total value of $2,837,226.24.
  • On Tuesday, June 6th, Jayshree Ullal sold 1,001 shares of Arista Networks stock. The shares were sold at an average price of $157.13, for a total value of $157,287.13.
  • On Wednesday, May 31st, Jayshree Ullal sold 34,157 shares of Arista Networks stock. The shares were sold at an average price of $147.35, for a total value of $5,033,033.95.
  • On Friday, May 26th, Jayshree Ullal sold 59,186 shares of Arista Networks stock. The shares were sold at an average price of $147.68, for a total value of $8,740,588.48.
  • On Tuesday, May 16th, Jayshree Ullal sold 52,033 shares of Arista Networks stock. The shares were sold at an average price of $147.40, for a total value of $7,669,664.20.
  • On Monday, May 15th, Jayshree Ullal sold 63,928 shares of Arista Networks stock. The shares were sold at an average price of $147.19, for a total value of $9,409,562.32.

Arista Networks, Inc. (ANET) traded up 0.23% during mid-day trading on Friday, hitting $151.58. The company had a trading volume of 1,558,087 shares. The firm has a market capitalization of $10.91 billion, a PE ratio of 48.96 and a beta of 1.35. The company’s 50 day moving average price is $147.05 and its 200-day moving average price is $120.46. Arista Networks, Inc. has a 12-month low of $60.51 and a 12-month high of $158.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The company had revenue of $335.48 million for the quarter, compared to analyst estimates of $326.19 million. Arista Networks had a net margin of 18.95% and a return on equity of 20.94%. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. On average, analysts forecast that Arista Networks, Inc. will post $3.95 EPS for the current fiscal year.

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

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Several research firms have commented on ANET. Cowen and Company upped their price target on Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Gabelli reaffirmed a “hold” rating on shares of Arista Networks in a report on Friday, April 14th. BMO Capital Markets increased their target price on Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. DA Davidson cut Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price for the company. in a report on Monday, May 22nd. Finally, Barclays PLC increased their target price on Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks currently has a consensus rating of “Buy” and an average price target of $134.30.

A number of large investors have recently bought and sold shares of ANET. Capital Research Global Investors raised its stake in Arista Networks by 11.9% in the third quarter. Capital Research Global Investors now owns 6,592,122 shares of the technology company’s stock valued at $560,858,000 after buying an additional 700,200 shares during the period. Vanguard Group Inc. raised its stake in Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after buying an additional 399,688 shares during the period. FMR LLC raised its stake in Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after buying an additional 800,465 shares during the period. BlackRock Inc. raised its stake in Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after buying an additional 1,679,417 shares during the period. Finally, Criterion Capital Management LLC raised its stake in Arista Networks by 4.9% in the third quarter. Criterion Capital Management LLC now owns 1,195,947 shares of the technology company’s stock valued at $101,751,000 after buying an additional 55,730 shares during the period. Hedge funds and other institutional investors own 60.68% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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