Arista Networks, Inc. $ANET Shares Bought by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp increased its holdings in Arista Networks by 6.1% in Q1, owning 156,466 shares worth $12.12 million by the end of the quarter.
• CEO Jayshree Ullal sold 1,785,165 shares, a 23.86% decrease in her position, resulting in ownership of approximately $776.19 million in shares after the sale.
• Arista Networks reported a 30.4% revenue increase year-over-year for Q2, with earnings per share of $0.73, surpassing analyst estimates of $0.65.

Hancock Whitney Corp lifted its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,466 shares of the technology company's stock after buying an additional 8,949 shares during the quarter. Hancock Whitney Corp's holdings in Arista Networks were worth $12,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Arista Networks during the 1st quarter worth $933,626,000. Nuveen Asset Management LLC increased its holdings in 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 purchasing an additional 8,671,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 purchasing an additional 6,357,753 shares during the period. Deutsche Bank AG increased its holdings in Arista Networks by 329.5% during the 4th quarter. Deutsche Bank AG now owns 6,397,154 shares of the technology company's stock worth $707,077,000 after purchasing an additional 4,907,742 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Arista Networks by 153.8% during the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock worth $584,119,000 after purchasing an additional 4,678,372 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ANET shares. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a report 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 report on Wednesday, August 6th. Redburn Atlantic assumed coverage on Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating and a $112.00 target price for the company. Finally, KeyCorp upped their target price on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.79.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction on 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 owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,839,614 shares of company stock valued at $724,163,153 over the last three months. Company insiders own 3.39% of the company's stock.

Arista Networks Price Performance

NYSE ANET traded up $1.66 on Friday, hitting $142.83. The stock had a trading volume of 9,564,681 shares, compared to its average volume of 7,140,393. The business's fifty day moving average price is $122.49 and its 200 day moving average price is $98.53. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $145.46. The stock has a market cap of $179.52 billion, a price-to-earnings ratio of 56.18, a price-to-earnings-growth ratio of 3.36 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. 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. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.