Arista Networks, Inc. (NYSE:ANET) insider Jayshree Ullal sold 22,763 shares of Arista Networks stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $157.81, for a total transaction of $3,592,229.03. Following the completion of the transaction, the insider now owns 2,576 shares in the company, valued at $406,518.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Jayshree Ullal also recently made the following trade(s):
- On Tuesday, June 27th, Jayshree Ullal sold 3,604 shares of Arista Networks stock. The shares were sold at an average price of $157.35, for a total value of $567,089.40.
- On Friday, June 23rd, Jayshree Ullal sold 61,325 shares of Arista Networks stock. The shares were sold at an average price of $160.25, for a total value of $9,827,331.25.
- On Monday, June 26th, Jayshree Ullal sold 55,221 shares of Arista Networks stock. The shares were sold at an average price of $160.22, for a total value of $8,847,508.62.
- On Thursday, June 22nd, Jayshree Ullal sold 80,064 shares of Arista Networks stock. The stock was sold at an average price of $158.08, for a total value of $12,656,517.12.
- On Tuesday, June 20th, Jayshree Ullal sold 8,001 shares of Arista Networks stock. The stock was sold at an average price of $157.28, for a total value of $1,258,397.28.
- 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $147.40, for a total value of $7,669,664.20.
Shares of Arista Networks, Inc. (NYSE ANET) traded down 0.89% during trading on Tuesday, hitting $147.96. The company’s stock had a trading volume of 569,470 shares. The company has a market capitalization of $10.65 billion, a P/E ratio of 47.79 and a beta of 1.35. The firm’s 50 day moving average is $153.41 and its 200-day moving average is $133.07. Arista Networks, Inc. has a 1-year low of $68.75 and a 1-year high of $162.97.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The firm had revenue of $335.48 million during the quarter, compared to analysts’ expectations of $326.19 million. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 38.5% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post $3.96 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in ANET. Vanguard Group Inc. boosted its position in shares of Arista Networks by 12.8% in the first quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock worth $464,830,000 after buying an additional 399,688 shares during the last quarter. FMR LLC boosted its position in shares of Arista Networks by 32.2% in the first quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock worth $435,004,000 after buying an additional 800,465 shares during the last quarter. BlackRock Inc. boosted its position in shares of Arista Networks by 34,238.9% in the first quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after buying an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Arista Networks by 13,502.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after buying an additional 1,219,248 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Arista Networks by 9.1% in the first quarter. William Blair Investment Management LLC now owns 1,136,817 shares of the technology company’s stock worth $150,367,000 after buying an additional 94,484 shares during the last quarter. Institutional investors own 60.98% of the company’s stock.
Several analysts have commented on the company. MKM Partners restated a “neutral” rating and issued a $125.00 price target (up previously from $100.00) on shares of Arista Networks in a report on Tuesday, May 9th. Deutsche Bank AG restated a “buy” rating and issued a $165.00 price target (up previously from $156.00) on shares of Arista Networks in a report on Monday, July 17th. Barclays PLC lifted their price target on Arista Networks from $161.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, June 15th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $160.00 price target on shares of Arista Networks in a report on Monday, June 5th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $120.00 price target on shares of Arista Networks in a report on Friday, July 14th. Eighteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $140.00.
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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