Arista Networks, Inc. $ANET Holdings Lifted by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC increased its holdings in Arista Networks by 2.1%, bringing its total ownership to approximately 213,988 shares valued at $16.58 million, making it the firm's 11th biggest position.
• Arista Networks reported $0.73 earnings per share in Q2, exceeding analysts' expectations of $0.65, and saw a revenue increase of 30.4% year-over-year, reaching $2.20 billion.
• The company announced a $1.50 billion stock buyback plan, indicating that the board believes the shares are undervalued, and around 82.47% of the stock is owned by institutional investors and hedge funds.

Atika Capital Management LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,988 shares of the technology company's stock after buying an additional 4,388 shares during the period. Arista Networks makes up about 2.3% of Atika Capital Management LLC's holdings, making the stock its 11th biggest position. Atika Capital Management LLC's holdings in Arista Networks were worth $16,580,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HighMark Wealth Management LLC lifted its position 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 purchasing an additional 230 shares in the last quarter. Quarry LP grew its position in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC increased its stake in 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 buying an additional 212 shares during the period. Cloud Capital Management LLC purchased a new stake in Arista Networks in the 1st quarter worth approximately $30,000. Finally, McIlrath & Eck LLC purchased a new stake in Arista Networks in the 4th quarter worth approximately $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET opened at $131.3960 on Thursday. The company has a market cap of $165.15 billion, a PE ratio of 51.68, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. The stock has a 50-day moving average of $112.32 and a 200-day moving average of $96.65. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results 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 firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company'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. On average, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its board has approved a stock buyback plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 192,979 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $139.67, for a total transaction of $26,953,376.93. Following the completion of the transaction, the chief executive officer owned 5,623,721 shares of the company's stock, valued at $785,465,112.07. The trade was a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director owned 57,784 shares of the company's stock, valued at $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,823,574 shares of company stock worth $721,676,802. 3.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. boosted their target price on Arista Networks from $130.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup upped their target price on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. BNP Paribas downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley lifted their price target on Arista Networks from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $138.07.

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.

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