Arista Networks, Inc. $ANET Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Arista Networks by 9.0%, owning approximately 22,959,214 shares worth about $1.78 billion, making it the 24th largest holding in its portfolio.
• CEO Jayshree Ullal sold 1,785,165 shares at an average price of $136.22, reducing her position by 23.86% as insider selling activity continues.
• Arista Networks reported $0.73 earnings per share for Q2, exceeding the consensus estimate, and its quarterly revenue grew by 30.4% year-over-year, prompting analysts to raise their target prices.

Alliancebernstein L.P. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,959,214 shares of the technology company's stock after purchasing an additional 1,889,198 shares during the period. Arista Networks makes up approximately 0.6% of Alliancebernstein L.P.'s portfolio, making the stock its 24th biggest holding. Alliancebernstein L.P. owned approximately 1.83% of Arista Networks worth $1,778,880,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Dunhill Financial LLC raised its stake in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares during the period. McIlrath & Eck LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at $35,000. HighMark Wealth Management LLC raised its stake in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Arista Networks in the 1st quarter valued at $30,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Arista Networks in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction 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 at the SEC website. Over the last ninety days, insiders have sold 5,839,614 shares of company stock worth $724,163,153. 3.39% of the stock is owned by company insiders.

Arista Networks Trading Up 1.2%

ANET stock traded up $1.66 during mid-day trading on Friday, hitting $142.83. 9,564,681 shares of the company were exchanged, compared to its average volume of 7,140,393. The company has a market capitalization of $179.52 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.32 and a beta of 1.50. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $145.46. The firm has a fifty day simple moving average of $122.49 and a 200 day simple moving average of $98.56.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI set a $150.00 target price on shares of Arista Networks and gave the company an "outperform" rating in a research note on Wednesday, August 6th. UBS Group raised their target price 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. Wolfe Research initiated coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Wedbush initiated coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $138.79.

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.