Arista Networks, Inc. $ANET Shares Bought by Pinnacle Wealth Management LLC

Key Points

• Pinnacle Wealth Management LLC increased its holdings in Arista Networks by 29.7% in Q2, owning 31,187 shares valued at approximately $3,191,000.
• Analysts have raised their price targets for Arista Networks, with Barclays citing a target increase from $151 to $179 and Citigroup raising theirs from $136 to $176.
• CEO Jayshree Ullal sold over 1.7 million shares recently, decreasing her stake by 23.86%, valued at approximately $243 million at the time of sale.

Pinnacle Wealth Management LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 29.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,187 shares of the technology company's stock after buying an additional 7,146 shares during the quarter. Arista Networks accounts for approximately 2.7% of Pinnacle Wealth Management LLC's holdings, making the stock its 8th biggest holding. Pinnacle Wealth Management LLC's holdings in Arista Networks were worth $3,191,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. REAP Financial Group LLC grew its holdings in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the last quarter. HighMark Wealth Management LLC grew its holdings in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after purchasing an additional 230 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Arista Networks in the 1st quarter worth about $30,000. Saudi Central Bank bought a new stake in shares of Arista Networks in the 1st quarter worth about $33,000. Finally, Costello Asset Management INC grew its holdings in shares of Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock worth $35,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Citigroup increased their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Needham & Company LLC increased their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Weiss Ratings reissued a "buy (b-)" rating on shares of Arista Networks in a report on Tuesday, October 14th. Finally, UBS Group increased their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and an average target price of $163.94.

Arista Networks Trading Down 2.0%

Shares of NYSE ANET opened at $143.10 on Friday. The firm has a market capitalization of $179.86 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.98 and a beta of 1.47. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $162.68. The firm's 50-day moving average is $142.11 and its 200-day moving average is $111.15.

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, beating the consensus estimate of $0.65 by $0.08. The company 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 company's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 6,622,904 shares of company stock valued at $887,794,521. 3.39% of the stock is currently owned by company insiders.

Arista Networks 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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