Arista Networks, Inc. (NYSE:ANET) CEO Sells $5,667,784.85 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 17,759 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $319.15, for a total transaction of $5,667,784.85. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,642,891.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 15th, Jayshree Ullal sold 25,000 shares of Arista Networks stock. The shares were sold at an average price of $317.00, for a total transaction of $7,925,000.00.
• On Monday, May 13th, Jayshree Ullal sold 20,000 shares of Arista Networks stock. The shares were sold at an average price of $312.07, for a total value of $6,241,400.00.
• On Friday, May 10th, Jayshree Ullal sold 23,958 shares of Arista Networks stock. The stock was sold at an average price of $301.29, for a total value of $7,218,305.82.
• On Thursday, May 2nd, Jayshree Ullal sold 1,500 shares of Arista Networks stock. The stock was sold at an average price of $258.77, for a total value of $388,155.00.
• On Tuesday, April 9th, Jayshree Ullal sold 4,042 shares of Arista Networks stock. The stock was sold at an average price of $299.99, for a total value of $1,212,559.58.
• On Wednesday, April 3rd, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The stock was sold at an average price of $291.12, for a total value of $6,986,880.00.
• On Monday, April 1st, Jayshree Ullal sold 24,000 shares of Arista Networks stock. The shares were sold at an average price of $292.28, for a total value of $7,014,720.00.
• On Wednesday, March 27th, Jayshree Ullal sold 23,000 shares of Arista Networks stock. The stock was sold at an average price of $296.24, for a total transaction of $6,813,520.00.
• On Monday, March 25th, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The shares were sold at an average price of $301.45, for a total transaction of $6,631,900.00.
• On Friday, March 22nd, Jayshree Ullal sold 22,000 shares of Arista Networks stock. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $5.13 during trading on Friday, hitting $306.55. The company’s stock had a trading volume of 2,136,456 shares, compared to its average volume of 2,843,981. The company has a market capitalization of $96.06 billion, a PE ratio of 42.69, a P/E/G ratio of 2.73 and a beta of 1.13. The business has a 50 day moving average price of $287.34 and a two-hundred day moving average price of $261.09. Arista Networks, Inc. has a fifty-two week low of $148.32 and a fifty-two week high of $329.04.

Arista Networks declared that its board has authorized a share buyback program on Tuesday, May 7th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on ANET. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Evercore ISI raised their target price on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price target on shares of Arista Networks in a research note on Wednesday, May 8th. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.22.

Institutional Investors Weigh In On Arista Networks

Large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its holdings in Arista Networks by 185.8% in the 1st quarter. Cetera Advisors LLC now owns 17,032 shares of the technology company’s stock valued at $4,939,000 after buying an additional 11,073 shares during the period. Cetera Investment Advisers raised its stake in Arista Networks by 490.7% in the first quarter. Cetera Investment Advisers now owns 73,654 shares of the technology company’s stock valued at $21,358,000 after purchasing an additional 61,186 shares in the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Arista Networks in the first quarter valued at approximately $42,000. Atria Investments Inc boosted its holdings in shares of Arista Networks by 9.5% during the 1st quarter. Atria Investments Inc now owns 13,786 shares of the technology company’s stock worth $3,998,000 after buying an additional 1,196 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Arista Networks in the 1st quarter valued at $521,767,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Company Profile

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.