Graham Capital Management L.P. Purchases 3,679 Shares of Arista Networks, Inc. $ANET

Key Points

• Graham Capital Management L.P. increased its stake in Arista Networks by 14.8%, holding 28,610 shares valued at approximately $2.2 million as of the latest SEC filing.
• Arista Networks CEO Jayshree Ullal sold over 1.7 million shares in August, decreasing her ownership by nearly 24% while still retaining over 5.6 million shares.
• Research firms have mixed ratings on Arista Networks, with Goldman Sachs raising its price target to $155, while BNP Paribas downgraded it to "neutral" with a $106 target.

Graham Capital Management L.P. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,610 shares of the technology company's stock after buying an additional 3,679 shares during the quarter. Graham Capital Management L.P.'s holdings in Arista Networks were worth $2,217,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ANET. Brighton Jones LLC raised its position in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new position in Arista Networks in the 4th quarter worth $202,000. Bank Pictet & Cie Europe AG raised its position in Arista Networks by 433.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock worth $1,200,000 after purchasing an additional 8,822 shares during the period. Quarry LP raised its position in Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the period. Finally, Bison Wealth LLC bought a new stake in Arista Networks in the 4th quarter worth $251,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction dated Wednesday, August 6th. The shares were 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 approximately $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,839,614 shares of company stock valued at $724,163,153 over the last three months. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ANET. KeyCorp raised their price target on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Needham & Company LLC raised their price target on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Evercore ISI set a $150.00 price target on shares of Arista Networks and gave the stock an "outperform" rating in a report on Wednesday, August 6th. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Finally, BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a research note on Wednesday, June 11th. Fourteen 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.79.

Arista Networks Price Performance

NYSE:ANET traded up $1.36 during mid-day trading on Wednesday, hitting $137.23. 6,781,661 shares of the company's stock were exchanged, compared to its average volume of 10,354,698. The company has a market cap of $172.47 billion, a PE ratio of 53.97, a P/E/G ratio of 3.21 and a beta of 1.50. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99. The business has a fifty day moving average price of $120.01 and a 200 day moving average price of $97.84.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results 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 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%. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management 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.