Carmignac Gestion Boosts Stake in Arista Networks, Inc. $ANET

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 3,445.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,700 shares of the technology company's stock after purchasing an additional 206,700 shares during the period. Carmignac Gestion's holdings in Arista Networks were worth $16,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its holdings 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 buying an additional 206 shares during the period. Dunhill Financial LLC boosted its holdings in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the period. McIlrath & Eck LLC bought a new position in Arista Networks in the 4th quarter worth $35,000. HighMark Wealth Management LLC boosted its holdings in 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 buying an additional 230 shares during the period. Finally, West Paces Advisors Inc. boosted its holdings in Arista Networks by 214.5% in the 4th quarter. West Paces Advisors Inc. now owns 368 shares of the technology company's stock worth $41,000 after buying an additional 251 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 0.3%

Shares of NYSE:ANET traded up $0.4540 during trading on Thursday, reaching $131.9240. The company's stock had a trading volume of 5,872,054 shares, compared to its average volume of 10,518,582. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $141.99. The firm's 50 day simple moving average is $112.32 and its two-hundred day simple moving average is $96.65. The stock has a market capitalization of $165.81 billion, a PE ratio of 51.89, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS 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 firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $0.53 EPS. The firm'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. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 5,823,574 shares of company stock valued at $721,676,802. 3.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ANET has been the subject of several recent analyst reports. KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. BNP Paribas Exane downgraded shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a report on Wednesday, June 11th. Citigroup increased their price objective on shares of Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Arista Networks has an average rating of "Moderate Buy" and a consensus price target of $138.07.

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.