3,716 Shares in Arista Networks, Inc. $ANET Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,716 shares of the technology company's stock, valued at approximately $380,000.

Several other large investors have also added to or reduced their stakes in ANET. Nuveen LLC acquired a new position in Arista Networks during the first quarter worth $933,626,000. AQR Capital Management LLC boosted its holdings in Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock worth $584,119,000 after purchasing an additional 4,678,372 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Arista Networks by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock valued at $740,126,000 after acquiring an additional 2,594,184 shares during the last quarter. Amundi lifted its stake in Arista Networks by 35.3% in the first quarter. Amundi now owns 8,582,109 shares of the technology company's stock valued at $611,852,000 after acquiring an additional 2,240,045 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after acquiring an additional 1,889,198 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,678,904 shares of company stock worth $894,021,161 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Melius Research increased their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 12th. KeyCorp increased their price target on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Piper Sandler increased their price target on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, UBS Group increased their price target on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.94.

Arista Networks Stock Performance

NYSE ANET opened at $138.76 on Wednesday. The firm has a 50-day moving average of $141.81 and a 200-day moving average of $109.79. The stock has a market cap of $174.40 billion, a PE ratio of 54.58, a P/E/G ratio of 3.07 and a beta of 1.47. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $162.68.

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. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. Arista Networks's quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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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