24,287 Shares in Arista Networks, Inc. $ANET Purchased by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. acquired 24,287 shares of Arista Networks, Inc. valued at approximately $2.5 million during the 2nd quarter.
• Several institutional investors increased their positions in Arista Networks, leading to an 82.47% ownership of the company’s stock by institutional investors and hedge funds.
• Wall Street analysts have set a consensus target price of $162.00 for Arista Networks with a rating of "Moderate Buy," reflecting a bullish outlook on the stock.

LGT Fund Management Co Ltd. purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,287 shares of the technology company's stock, valued at approximately $2,485,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ibex Wealth Advisors raised its holdings in Arista Networks by 14.4% during the 1st quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock worth $4,501,000 after purchasing an additional 7,329 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Arista Networks during the 1st quarter worth about $629,000. Commonwealth Equity Services LLC raised its holdings in Arista Networks by 19.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company's stock worth $47,519,000 after purchasing an additional 101,162 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Arista Networks during the 1st quarter worth about $15,227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arista Networks by 94.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company's stock worth $50,363,000 after purchasing an additional 316,309 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Needham & Company LLC boosted their price objective on Arista Networks from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Wells Fargo & Company upped their price target on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Barclays upped their price target on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Melius Research upped their price target on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, BNP Paribas raised Arista Networks from a "hold" rating to an "outperform" rating in a research note on Thursday, September 25th. Nineteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 6,678,904 shares of company stock worth $894,021,161. 3.39% of the stock is owned by company insiders.

Arista Networks Stock Performance

NYSE ANET opened at $145.51 on Friday. The business has a 50 day simple moving average of $137.53 and a 200 day simple moving average of $106.35. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $156.32. The stock has a market cap of $182.88 billion, a price-to-earnings ratio of 57.23, a PEG ratio of 3.01 and a beta of 1.47.

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

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.

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