Arista Networks, Inc. (NYSE:ANET - Get Free Report) CEO Jayshree Ullal sold 350,000 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $159.32, for a total transaction of $55,762,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,333,207 shares of the company's stock, valued at approximately $849,686,539.24. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jayshree Ullal also recently made the following trade(s):
- On Monday, April 13th, Jayshree Ullal sold 112,812 shares of Arista Networks stock. The shares were sold at an average price of $150.11, for a total transaction of $16,934,209.32.
Arista Networks Price Performance
Shares of ANET stock opened at $166.87 on Tuesday. The stock has a market capitalization of $210.12 billion, a price-to-earnings ratio of 60.46, a PEG ratio of 2.89 and a beta of 1.48. The company's fifty day simple moving average is $136.70 and its two-hundred day simple moving average is $136.40. Arista Networks, Inc. has a 1 year low of $66.59 and a 1 year high of $167.90.
Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business's revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 3.17 EPS for the current year.
Hedge Funds Weigh In On Arista Networks
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Board of the Pension Protection Fund bought a new stake in shares of Arista Networks during the 4th quarter worth $26,000. Sankala Group LLC purchased a new stake in Arista Networks during the fourth quarter valued at about $27,000. Prosperity Bancshares Inc purchased a new stake in Arista Networks during the fourth quarter valued at about $28,000. AdvisorNet Financial Inc lifted its stake in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company's stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Finally, Knuff & Co LLC bought a new stake in Arista Networks during the third quarter worth about $29,000. Hedge funds and other institutional investors own 82.47% of the company's stock.
More Arista Networks News
Here are the key news stories impacting Arista Networks this week:
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $175.00 target price (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. UBS Group set a $200.00 price target on shares of Arista Networks in a report on Tuesday, February 24th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Barclays reaffirmed an "overweight" rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Susquehanna upgraded shares of Arista Networks to a "strong-buy" rating in a research note on Wednesday, April 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $177.83.
View Our Latest Stock Analysis on Arista Networks
Arista Networks Company Profile
(
Get Free Report)
Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.
Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.
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