Arista Networks, Inc. $ANET Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Arista Networks by 3.4%, acquiring 27,833 additional shares during the 2nd quarter, bringing its total ownership to 838,000 shares worth approximately $85.7 million.
• Arista Networks reported earnings per share (EPS) of $0.73 for the last quarter, exceeding analysts' expectations and reflecting a 30.4% revenue increase compared to the prior year.
• Insider trading activity saw significant stock sales, with CEO Kenneth Duda and Director Charles H. Giancarlo selling a total of 88,000 shares combined in mid-September.

Fifth Third Bancorp increased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 838,000 shares of the technology company's stock after buying an additional 27,833 shares during the period. Fifth Third Bancorp owned about 0.07% of Arista Networks worth $85,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighMark Wealth Management LLC increased its stake in Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares during the period. Cloud Capital Management LLC purchased a new stake in Arista Networks during the 1st quarter worth $30,000. Saudi Central Bank purchased a new stake in Arista Networks during the 1st quarter worth $33,000. Tradewinds Capital Management LLC increased its stake in Arista Networks by 45.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after buying an additional 143 shares during the period. Finally, Costello Asset Management INC increased its stake in Arista Networks by 51.3% during the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock worth $35,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Down 1.1%

Shares of NYSE:ANET opened at $143.82 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $156.32. The firm has a 50-day simple moving average of $132.32 and a 200 day simple moving average of $103.02. The company has a market cap of $180.76 billion, a PE ratio of 56.57, a P/E/G ratio of 3.03 and a beta of 1.50.

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 analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company's revenue for the quarter was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush assumed coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set an "outperform" rating on the stock. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. William Blair reissued an "outperform" rating on shares of Arista Networks in a research report on Friday, September 12th. Redburn Atlantic assumed coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price for the company. Finally, Barclays boosted their target price on shares of Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.88.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider owned 12,976 shares of the company's stock, valued at $1,839,867.04. This represents a 69.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $148.42, for a total transaction of $8,608,360.00. The disclosure for this sale can be found here. Insiders sold a total of 7,640,614 shares of company stock valued at $992,096,077 in the last quarter. Insiders own 3.54% of the company's stock.

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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