Acadian Asset Management LLC Cuts Position in Arista Networks, Inc. $ANET

Key Points

• Acadian Asset Management LLC reduced its stake in Arista Networks by 24.1%, owning 2,224,355 shares after selling 705,801 shares.
• Multiple analysts increased their price targets for Arista Networks, with JPMorgan raising it from $130 to $150, indicating a positive outlook for the stock.
• Arista Networks reported $2.20 billion in revenue for the last quarter, exceeding analyst expectations and marking a 30.4% increase compared to the same quarter last year.

Acadian Asset Management LLC trimmed its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,224,355 shares of the technology company's stock after selling 705,801 shares during the quarter. Acadian Asset Management LLC owned approximately 0.18% of Arista Networks worth $172,321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of Arista Networks by 16.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,098 shares of the technology company's stock worth $163,000 after buying an additional 299 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Arista Networks by 3.8% in the first quarter. IFM Investors Pty Ltd now owns 203,405 shares of the technology company's stock worth $15,760,000 after buying an additional 7,525 shares during the period. Fortis Capital Advisors LLC raised its holdings in shares of Arista Networks by 300.1% in the first quarter. Fortis Capital Advisors LLC now owns 17,320 shares of the technology company's stock worth $1,342,000 after buying an additional 12,991 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Arista Networks by 315.4% in the first quarter. Belpointe Asset Management LLC now owns 22,237 shares of the technology company's stock worth $1,723,000 after buying an additional 16,884 shares during the period. Finally, Focus Partners Wealth increased its holdings in Arista Networks by 24.5% during the 1st quarter. Focus Partners Wealth now owns 102,158 shares of the technology company's stock worth $7,915,000 after purchasing an additional 20,122 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Needham & Company LLC lifted their target price on Arista Networks from $130.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Melius Research lifted their target price on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research report on Friday. Redburn Atlantic initiated coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating and a $112.00 target price for the company. Wedbush initiated coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating for the company. Finally, Citigroup lifted their target price on Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research report on Friday. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.56.

Arista Networks Stock Down 8.9%

Shares of Arista Networks stock traded down $13.69 during trading on Friday, reaching $139.35. The company's stock had a trading volume of 17,882,765 shares, compared to its average volume of 7,918,403. The company has a market cap of $175.14 billion, a price-to-earnings ratio of 54.81, a P/E/G ratio of 3.60 and a beta of 1.50. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The company has a 50-day simple moving average of $126.85 and a two-hundred day simple moving average of $100.18.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business's quarterly revenue 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, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 1,247,688 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the transaction, the chief executive officer owned 5,383,207 shares of the company's stock, valued at $799,567,735.71. The trade was a 18.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 30,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $136.51, for a total value of $4,095,300.00. Following the completion of the transaction, the senior vice president directly owned 12,976 shares of the company's stock, valued at approximately $1,771,353.76. This trade represents a 69.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,582,614 shares of company stock valued at $980,712,097 in the last quarter. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Company 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.