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

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 138,351 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arista Networks Trading Down 5.1 %

Shares of ANET stock opened at $91.50 on Friday. The company has a market cap of $115.40 billion, a P/E ratio of 41.22, a PEG ratio of 3.10 and a beta of 1.09. The firm has a fifty day moving average price of $112.19 and a 200 day moving average price of $102.02. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ANET shares. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their target price on Arista Networks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Barclays increased their price target on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Finally, Citigroup upped their target price on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $113.79.

Institutional Trading of Arista Networks

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company’s stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares in the last quarter. FMR LLC boosted its stake in Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after acquiring an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arista Networks by 311.6% during the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock worth $2,665,829,000 after purchasing an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Arista Networks by 218.5% in the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company’s stock valued at $2,328,869,000 after purchasing an additional 14,454,822 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.