Arista Networks, Inc. (NYSE:ANET) insider Jayshree Ullal sold 8,001 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $157.28, for a total transaction of $1,258,397.28. Following the completion of the transaction, the insider now owns 2,576 shares in the company, valued at approximately $405,153.28. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $7,669,664.20.
  • On Monday, May 15th, Jayshree Ullal sold 63,928 shares of Arista Networks stock. The stock was sold at an average price of $147.19, for a total transaction of $9,409,562.32.
  • On Thursday, May 11th, Jayshree Ullal sold 140,696 shares of Arista Networks stock. The stock was sold at an average price of $145.17, for a total transaction of $20,424,838.32.

Arista Networks, Inc. (NYSE ANET) traded up 2.02% during midday trading on Wednesday, reaching $158.16. 834,130 shares of the company traded hands. Arista Networks, Inc. has a 1-year low of $60.51 and a 1-year high of $158.84. The firm has a 50-day moving average of $147.93 and a 200-day moving average of $121.75. The stock has a market capitalization of $11.39 billion, a P/E ratio of 51.09 and a beta of 1.35.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $335.48 million during the quarter, compared to the consensus estimate of $326.19 million. During the same period in the previous year, the company posted $0.68 earnings per share. Arista Networks’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, analysts predict that Arista Networks, Inc. will post $3.95 earnings per share for the current year.

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

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC bought a new position in shares of Arista Networks during the fourth quarter worth about $153,000. SG Americas Securities LLC bought a new position in shares of Arista Networks during the first quarter worth about $164,000. Financial Architects Inc increased its position in shares of Arista Networks by 232.0% in the first quarter. Financial Architects Inc now owns 1,255 shares of the technology company’s stock worth $166,000 after buying an additional 877 shares during the last quarter. Pittenger & Anderson Inc. increased its position in shares of Arista Networks by 255.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,935 shares of the technology company’s stock worth $187,000 after buying an additional 1,390 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of Arista Networks during the fourth quarter worth about $205,000. 60.68% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on ANET shares. Goldman Sachs Group Inc upgraded shares of Arista Networks from a “sell” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $125.00 in a research note on Monday, March 27th. Credit Suisse Group cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research note on Thursday, April 27th. They noted that the move was a valuation call. Citigroup Inc. upped their price target on shares of Arista Networks from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. JMP Securities upped their price target on shares of Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $162.00 target price (up previously from $150.00) on shares of Arista Networks in a research note on Friday, May 5th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Arista Networks has a consensus rating of “Buy” and a consensus target price of $134.74.

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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