1832 Asset Management L.P. Decreases Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• 1832 Asset Management L.P. sold 1,201,701 shares of Arista Networks, reducing its stake by 63.2%, now holding approximately 698,500 shares worth about $54.12 million.
• Arista Networks' recent earnings report showed it beat estimates with an EPS of $0.73 and revenue of $2.20 billion, reflecting a 30.4% year-over-year increase.
• The company has initiated a $1.5 billion stock repurchase program, indicating management's belief that its stock is undervalued.

1832 Asset Management L.P. decreased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 63.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 698,500 shares of the technology company's stock after selling 1,201,701 shares during the period. 1832 Asset Management L.P. owned about 0.06% of Arista Networks worth $54,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Monetary Management Group Inc. bought a new position in shares of Arista Networks in the first quarter worth approximately $253,000. Compound Planning Inc. grew its holdings in shares of Arista Networks by 4.6% in the first quarter. Compound Planning Inc. now owns 25,180 shares of the technology company's stock worth $1,951,000 after purchasing an additional 1,103 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of Arista Networks by 15.4% in the first quarter. Norinchukin Bank The now owns 54,186 shares of the technology company's stock worth $4,198,000 after purchasing an additional 7,251 shares during the last quarter. Summit Financial LLC grew its holdings in shares of Arista Networks by 58.9% in the first quarter. Summit Financial LLC now owns 7,474 shares of the technology company's stock worth $579,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC bought a new position in shares of Arista Networks in the first quarter worth approximately $600,000. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ANET shares. Wolfe Research started coverage on shares of Arista Networks in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. KGI Securities lowered Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Wedbush began coverage on Arista Networks in a research note on Wednesday, May 28th. They issued an "outperform" rating for the company. Piper Sandler raised their price target on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised their price target on Arista Networks from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Monday, August 18th. The stock was 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 directly owned 12,976 shares in the company, valued at approximately $1,771,353.76. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $117.01, for a total value of $936,080.00. Following the sale, the director owned 57,784 shares of the company's stock, valued at approximately $6,761,305.84. This represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,823,574 shares of company stock worth $721,676,802. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Up 0.9%

Shares of NYSE:ANET traded up $1.1360 on Friday, hitting $133.1660. 7,358,652 shares of the company traded hands, compared to its average volume of 10,159,499. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $141.99. The stock has a 50 day simple moving average of $113.86 and a 200-day simple moving average of $96.80. The company has a market cap of $167.37 billion, a PE ratio of 52.38, a PEG ratio of 3.13 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results 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. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the company earned $0.53 earnings per share. The company's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Arista Networks Company 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.