Arista Networks, Inc. $ANET Shares Acquired by Amundi

Key Points

• Amundi has increased its stake in Arista Networks by 35.3%, bringing its total holdings to approximately $611.85 million with 8,582,109 shares owned.
• Multiple analysts have issued target price adjustments for Arista Networks, with Morgan Stanley raising its target from $120.00 to $125.00, and a consensus price target of $138.07 among 19 analysts.
• Insider trading activity revealed significant sales by CEO Jayshree Ullal and SVP Kenneth Duda, reducing their holdings by over 70%, while insiders collectively sold shares worth approximately $724 million in the last three months.

Amundi grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,582,109 shares of the technology company's stock after purchasing an additional 2,240,045 shares during the quarter. Amundi owned approximately 0.68% of Arista Networks worth $611,852,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 1.8% during 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 last quarter. Cresset Asset Management LLC grew its holdings in shares of Arista Networks by 277.5% during 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 buying an additional 20,059,303 shares during the last quarter. Nuveen LLC purchased a new position in shares of Arista Networks during the first quarter worth about $933,626,000. Nuveen Asset Management LLC grew its holdings 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 worth $1,248,169,000 after buying an additional 8,671,235 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 worth $799,244,000 after buying an additional 372,677 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

ANET stock traded up $1.66 during midday trading on Friday, hitting $142.83. The stock had a trading volume of 9,564,681 shares, compared to its average volume of 7,140,393. The firm has a market cap of $179.52 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.36 and a beta of 1.50. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $145.46. The company's 50-day moving average price is $122.49 and its 200 day moving average price is $98.53.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm 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 revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the company 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 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ANET shares. Redburn Atlantic started coverage on Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price target on the stock. Piper Sandler lifted their price target 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. Needham & Company LLC lifted their price target on shares of Arista Networks from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. KeyCorp lifted their price target on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $138.79.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the completion of the sale, the director directly owned 57,784 shares of the company's stock, valued at $6,761,305.84. The trade was a 12.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 24,040 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $132.77, for a total transaction of $3,191,790.80. Following the sale, the chief executive officer directly owned 9,917 shares of the company's stock, valued at $1,316,680.09. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,839,614 shares of company stock valued at $724,163,153 in the last ninety days. Company insiders own 3.39% of the company's stock.

About Arista Networks

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.