Allspring Global Investments Holdings LLC Decreases Stock Position in Arista Networks, Inc. $ANET

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Arista Networks by 1.3%, owning approximately 1.78 million shares valued at $176 million after selling over 23,000 shares in the second quarter.
• Despite a slight decline in stock price, Arista Networks reported $2.20 billion in revenue and $0.73 EPS for the previous quarter, surpassing consensus estimates.
• Insider selling was significant, with CEO Jayshree Ullal selling 1.78 million shares, indicating a 23.86% decrease in her position at the company.

Allspring Global Investments Holdings LLC lowered its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,779,806 shares of the technology company's stock after selling 23,778 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Arista Networks worth $176,041,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. HighMark Wealth Management LLC lifted its stake in Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Arista Networks in the 1st quarter worth $30,000. Saudi Central Bank purchased a new stake in Arista Networks in the 1st quarter worth $33,000. REAP Financial Group LLC lifted its stake in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 2.4%

Shares of NYSE:ANET opened at $154.51 on Monday. The company has a market capitalization of $194.19 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 3.21 and a beta of 1.47. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $162.68. The firm's 50-day moving average is $140.85 and its 200 day moving average is $109.10.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate 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 was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANET. Zacks Research cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Wolfe Research upped their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Piper Sandler upped their target price on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Barclays upped their target price on shares of Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Arista Networks in a research report on Saturday, September 27th. Nineteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $163.94.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value 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. This 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 this hyperlink. In the last 90 days, insiders have sold 6,678,904 shares of company stock worth $894,021,161. Corporate insiders own 3.39% of the company's stock.

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.

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