Arista Networks, Inc. $ANET Shares Bought by Park National Corp OH

Key Points

• Park National Corp OH increased its stake in Arista Networks by 8.4% in the second quarter, now holding approximately 378,614 shares valued at $38.74 million.
• Insider trading revealed that CEO Jayshree Ullal sold over 1.24 million shares, decreasing her ownership by 18.82%, while other executives also reduced their holdings.
• Analysts have raised price targets for Arista Networks, with Wolfe Research setting a target of $185 and several firms assigning an overall moderate buy rating based on their performances.

Park National Corp OH grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,614 shares of the technology company's stock after acquiring an additional 29,455 shares during the period. Arista Networks comprises approximately 1.3% of Park National Corp OH's holdings, making the stock its 21st biggest position. Park National Corp OH's holdings in Arista Networks were worth $38,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ANET. Brighton Jones LLC grew its holdings in Arista Networks by 321.7% during the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Arista Networks in the 4th quarter worth about $202,000. Bank Pictet & Cie Europe AG lifted its position in shares of 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 buying an additional 8,822 shares during the last quarter. Bison Wealth LLC bought a new position in shares of Arista Networks in the 4th quarter worth about $251,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arista Networks by 105.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 144,463 shares of the technology company's stock worth $15,968,000 after buying an additional 74,071 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,247,688 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director owned 57,784 shares in the company, valued at $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,582,614 shares of company stock worth $980,712,097. 3.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. Wolfe Research raised their price target on shares of Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday. Redburn Atlantic initiated coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target on the stock. Finally, BNP Paribas Exane downgraded shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research report on Wednesday, June 11th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $157.56.

Arista Networks Stock Down 8.9%

Shares of NYSE:ANET opened at $139.35 on Friday. The company has a market cap of $175.14 billion, a PE ratio of 54.81, a P/E/G ratio of 3.60 and a beta of 1.50. The company's 50-day moving average price is $126.85 and its 200 day moving average price is $100.18. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 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% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities 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.

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