Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells $7,107,506.98 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,759 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $400.22, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $7,076,289.82. This trade represents a 50.11 % decrease in their ownership of the stock. 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 Monday, November 4th, Jayshree Ullal sold 832 shares of Arista Networks stock. The stock was 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 transaction 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 transaction of $280,575.36.

Arista Networks Trading Down 1.5 %

NYSE ANET opened at $402.26 on Thursday. Arista Networks, Inc. has a 52 week low of $210.69 and a 52 week high of $431.97. The stock has a market cap of $126.69 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The company has a 50-day moving average price of $395.77 and a two-hundred day moving average price of $355.65.

Shares of Arista Networks are set to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, December 3rd.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $265.00 to $320.00 and gave the stock a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, UBS Group upped their target price on shares of Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $395.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% in the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC boosted 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 acquiring an additional 27 shares in the last quarter. First Affirmative Financial Network boosted its holdings in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after acquiring an additional 28 shares in the last quarter. Altman Advisors Inc. boosted its holdings in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after acquiring an additional 28 shares in the last quarter. Finally, FCG Investment Co boosted its holdings in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. 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.