1248 Management LLC Cuts Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• 1248 Management LLC has reduced its stake in Arista Networks by 52.8%, holding now 7,906 shares valued at $613,000.
• Insider trading activity includes CEO Jayshree Ullal selling 1,785,165 shares for approximately $243 million, marking a 23.86% decrease in her ownership.
• Arista Networks has approved a $1.50 billion stock repurchase plan, indicating management's belief that the shares are undervalued.

1248 Management LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 52.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,906 shares of the technology company's stock after selling 8,854 shares during the period. 1248 Management LLC's holdings in Arista Networks were worth $613,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after purchasing an additional 1,771,982 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of Arista Networks by 277.5% in 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 purchasing an additional 20,059,303 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Arista Networks in the 1st quarter valued at approximately $933,626,000. Nuveen Asset Management LLC boosted its stake in shares of Arista Networks by 330.8% in the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after purchasing an additional 8,671,235 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Arista Networks by 3.7% in the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after purchasing an additional 372,677 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Monday, August 18th. The shares were sold at an average price of $136.51, for a total value of $4,095,300.00. Following the completion of the sale, the senior vice president owned 12,976 shares of the company's stock, valued at approximately $1,771,353.76. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the completion of the sale, the director directly owned 57,784 shares of the company's stock, valued at approximately $6,761,305.84. The trade was a 12.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,839,614 shares of company stock worth $724,163,153 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Up 2.8%

Arista Networks stock traded up $3.84 during mid-day trading on Thursday, hitting $141.22. 6,574,446 shares of the stock were exchanged, compared to its average volume of 10,328,202. The firm's fifty day simple moving average is $120.83 and its two-hundred day simple moving average is $98.11. The stock has a market capitalization of $177.49 billion, a price-to-earnings ratio of 55.54, a PEG ratio of 3.21 and a beta of 1.50. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $142.50.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. Arista Networks's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price target on shares of Arista Networks from $106.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. UBS Group raised their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays reiterated an "overweight" rating and issued a $151.00 price objective (up previously from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Wedbush started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued an "outperform" rating for the company. Finally, BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a report on Wednesday, June 11th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $138.79.

Arista Networks Profile

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.