Arista Networks, Inc. $ANET Position Increased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Arista Networks by 143.8%, owning 496,538 shares valued at approximately $38.5 million as reported in their first quarter filing with the SEC.
• The stock received several upgrades from analysts, with price targets raised by Goldman Sachs to $155.00 and Morgan Stanley to $125.00, indicating a strong consensus among analysts for a Buy rating.
• CEO Jayshree Ullal sold over 1.7 million shares of Arista Networks stock for approximately $243 million, representing a 23.86% decrease in their ownership.

Ieq Capital LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 143.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 496,538 shares of the technology company's stock after purchasing an additional 292,835 shares during the quarter. Ieq Capital LLC's holdings in Arista Networks were worth $38,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Clearstead Trust LLC lifted its position in shares of Arista Networks by 5.1% in the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after purchasing an additional 119 shares in the last quarter. Pier 88 Investment Partners LLC lifted its position in shares of Arista Networks by 1.5% in the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after purchasing an additional 120 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of Arista Networks by 31.3% in the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after purchasing an additional 125 shares in the last quarter. PFG Advisors lifted its position in shares of Arista Networks by 2.7% in the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after purchasing an additional 131 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Arista Networks by 9.4% in the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock worth $126,000 after purchasing an additional 139 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley increased their price objective on Arista Networks from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Rosenblatt Securities increased their price objective on Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Redburn Atlantic began coverage on Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price objective on the stock. Finally, Barclays restated an "overweight" rating and issued a $151.00 price objective (up previously from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $138.07.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's 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. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 5,823,574 shares of company stock valued at $721,676,802 over the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Up 1.0%

Shares of Arista Networks stock opened at $134.32 on Wednesday. The company's fifty day simple moving average is $115.52 and its 200-day simple moving average is $97.04. The company has a market cap of $168.82 billion, a price-to-earnings ratio of 52.83, a PEG ratio of 3.13 and a beta of 1.37. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The business 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%. Arista Networks's quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.

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