Movement Alert|Arista Networks Falls 3.28% in Regular Trading, CEO Plans to Sell Over 1 Million Shares Worth Approximately $221 Million

Market Focus08-06 21:52

On August 6, Arista Networks declined 3.28% in regular trading, trading at $193.73/share with turnover of $254 million, pulling back from the prior session's 52-week high following a massive post-earnings rally.

On the news front, CEO and Chairperson Jayshree Ullal filed a Form 144 indicating plans to sell 1,099,495 shares of common stock via the NYSE, with an estimated market value of approximately $221.24 million. The planned transaction date was listed as August 5. This follows prior sales by Ullal in July, when she sold over 460,000 shares at prices around $187-$189 per share. The large-scale insider selling plan appears to be weighing on sentiment after the stock surged over 11% in the previous session on blowout Q2 results, with revenue of $3.04 billion beating the $2.83 billion estimate and adjusted EPS of $1.02 topping the $0.89 consensus by 14.6%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment