Insider Selling: Arista Networks, Inc. (NYSE:ANET) CEO Sells $12,988,391.88 in Stock

Arista Networks, Inc. (NYSE:ANET) CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Arista Networks Trading Up 1.7 %

Shares of ANET opened at $93.10 on Friday. The business’s 50 day moving average is $111.80 and its 200 day moving average is $102.08. The company has a market capitalization of $117.41 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The company 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%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the topic of several research reports. UBS Group raised their target price on Arista Networks from $106.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Citigroup raised their target price on Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Institutional Trading of Arista Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 valued at $10,620,270,000 after buying an additional 72,311,318 shares in the last quarter. FMR LLC grew its holdings in Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company’s stock valued at $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company’s stock valued at $3,016,207,000 after buying an additional 20,059,303 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arista Networks by 311.6% during the 4th quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company’s stock valued at $2,665,829,000 after buying an additional 18,293,874 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Arista Networks by 218.5% during 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 buying an additional 14,454,822 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.