State of Wyoming Makes New $631,000 Investment in Arista Networks, Inc. $ANET

Key Points

• The State of Wyoming has acquired a new position in Arista Networks, purchasing 8,148 shares valued at approximately $631,000.
• In Q2, Arista Networks reported earnings per share of $0.73, exceeding expectations, with a year-over-year revenue increase of 30.4%.
• Arista Networks has authorized a $1.50 billion share buyback plan, signaling confidence in the company's valuation by its leadership.

State of Wyoming bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,148 shares of the technology company's stock, valued at approximately $631,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Arista Networks by 1.8% in the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock worth $7,581,955,000 after purchasing an additional 1,771,982 shares during the period. Cresset Asset Management LLC increased its stake in Arista Networks by 277.5% in the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares during the period. Nuveen LLC purchased a new stake in Arista Networks in the first quarter worth $933,626,000. Nuveen Asset Management LLC increased its stake in shares of Arista Networks by 330.8% during the fourth quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after buying an additional 8,671,235 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Arista Networks by 3.7% during the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after buying an additional 372,677 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Performance

ANET stock traded up $0.23 during trading on Friday, reaching $136.46. 7,957,378 shares of the company traded hands, compared to its average volume of 9,078,280. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $141.99. The business has a 50 day simple moving average of $118.31 and a 200 day simple moving average of $97.36. The company has a market capitalization of $171.51 billion, a price-to-earnings ratio of 53.67, a price-to-earnings-growth ratio of 3.21 and a beta of 1.49.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating 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 company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm'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. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup raised their price target on Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Redburn Atlantic assumed coverage on Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price target on the stock. Wedbush assumed coverage on Arista Networks in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. Wolfe Research assumed coverage on Arista Networks in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Finally, BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total value of $936,080.00. Following the completion of the sale, the director owned 57,784 shares of the company's stock, valued at approximately $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,040 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $132.77, for a total value of $3,191,790.80. Following the completion of the sale, the chief executive officer directly owned 9,917 shares of the company's stock, valued at approximately $1,316,680.09. This represents a 70.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,847,614 shares of company stock valued at $724,868,593 over the last quarter. 3.54% of the stock is owned by corporate insiders.

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.