Beck Bode LLC Acquires 25,943 Shares of Arista Networks, Inc. $ANET

Key Points

• Beck Bode LLC increased its holdings in Arista Networks by 15.8%, making it the 18th largest position in their portfolio, with shares valued at approximately $14.7 million.
• Directors at Arista Networks sold significant portions of their stock, with Director Charles H. Giancarlo selling 8,000 shares for about $936,080 and CEO Jayshree Ullal selling 24,040 shares worth approximately $3.19 million.
• Analysts have recently increased their price targets for Arista Networks, with firms like Needham & Company and Goldman Sachs adjusting their targets to as high as $155 per share, reflecting a consensus rating of "Moderate Buy".

Beck Bode LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 189,778 shares of the technology company's stock after purchasing an additional 25,943 shares during the period. Arista Networks accounts for about 2.7% of Beck Bode LLC's investment portfolio, making the stock its 18th biggest holding. Beck Bode LLC's holdings in Arista Networks were worth $14,704,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ANET. Cresset Asset Management LLC boosted its position in 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 valued at $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $933,626,000. Nuveen Asset Management LLC boosted its stake in shares of Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock worth $1,248,169,000 after acquiring an additional 8,671,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Arista Networks by 278.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,641,326 shares of the technology company's stock worth $955,126,000 after acquiring an additional 6,357,753 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Arista Networks by 289.1% during the 4th quarter. Ameriprise Financial Inc. now owns 7,875,759 shares of the technology company's stock worth $870,513,000 after acquiring an additional 5,851,653 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. Wolfe Research initiated coverage on Arista Networks in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. BNP Paribas downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Rosenblatt Securities lifted their target price on Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley lifted their target price on Arista Networks from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC lifted their target price on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus target price of $138.07.

Arista Networks Stock Performance

NYSE:ANET traded up $0.23 during mid-day trading on Monday, hitting $136.46. 7,957,378 shares of the stock were exchanged, compared to its average volume of 9,078,280. The stock 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. The firm's 50-day simple moving average is $118.31 and its 200 day simple moving average is $97.36. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $141.99.

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, beating 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 return on equity of 31.05% and a net margin of 40.90%.The company's quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value 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. The trade was 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 sold 5,839,614 shares of company stock valued at $724,163,153. 3.54% of the stock is owned by insiders.

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.