Bell Bank Purchases New Stake in Arista Networks, Inc. $ANET

Key Points

• Bell Bank has purchased 7,421 shares of Arista Networks, Inc. valued at approximately $759,000 during the 2nd quarter.
• Analysts have raised their price targets for Arista Networks, with Piper Sandler setting a new target of $143.00 and JPMorgan Chase moving it to $175.00, indicating a general positive outlook.
• CEO Jayshree Ullal sold 1.78 million shares for over $243 million on August 6, which reduced her position by nearly 24%.

Bell Bank bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,421 shares of the technology company's stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ANET. HighMark Wealth Management LLC lifted its stake in shares of Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Arista Networks during the 1st quarter worth about $30,000. Saudi Central Bank acquired a new position in Arista Networks in the 1st quarter valued at about $33,000. Tradewinds Capital Management LLC grew its position in Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after acquiring an additional 143 shares in the last quarter. Finally, Costello Asset Management INC grew its position in Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Down 0.1%

NYSE:ANET traded down $0.09 during trading hours on Tuesday, reaching $145.31. 2,259,802 shares of the stock were exchanged, compared to its average volume of 10,375,021. The firm has a 50 day simple moving average of $131.59 and a 200-day simple moving average of $102.73. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $156.32. The stock has a market capitalization of $182.64 billion, a P/E ratio of 57.12, a P/E/G ratio of 3.12 and a beta of 1.49.

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

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was 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 in the company, valued at $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 7,582,614 shares of company stock valued at $983,487,717 in the last 90 days. Insiders own 3.54% of the company's stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several recent analyst reports. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a research note on Wednesday, June 11th. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. KeyCorp boosted their target price on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Melius Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Wolfe Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.

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.