Arista Networks, Inc. $ANET Shares Sold by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its holdings in Arista Networks by 15.4%, selling 285,367 shares, resulting in ownership of 1,572,353 shares valued at approximately $121.8 million.
• Analysts have updated their price targets for Arista Networks, with Needham & Company raising theirs to $155.00 and JPMorgan Chase & Co. to $150.00, reflecting a strong consensus rating of "Moderate Buy."
• Arista Networks' CEO, Jayshree Ullal, sold over 1.7 million shares worth about $243.2 million, which constitutes a significant decrease in her ownership stake by 23.86%.

Caisse DE Depot ET Placement DU Quebec reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,572,353 shares of the technology company's stock after selling 285,367 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.13% of Arista Networks worth $121,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after buying an additional 1,771,982 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Nuveen LLC bought a new position in Arista Networks during the first quarter worth $933,626,000. Nuveen Asset Management LLC lifted its stake in Arista Networks by 330.8% during the fourth 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 last quarter. Finally, Northern Trust Corp lifted its stake in Arista Networks by 3.7% during the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock worth $799,244,000 after purchasing an additional 372,677 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush assumed coverage on Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating on the stock. Rosenblatt Securities increased their target price on Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Needham & Company LLC increased their target price on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wolfe Research assumed coverage on Arista Networks in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.07.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,823,574 shares of company stock worth $721,676,802 over the last quarter. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of ANET opened at $133.1660 on Monday. The firm has a market capitalization of $167.37 billion, a price-to-earnings ratio of 52.38, a price-to-earnings-growth ratio of 3.13 and a beta of 1.37. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99. The stock's fifty day moving average is $113.86 and its 200-day moving average is $96.67.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company's quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Analysts forecast 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 repurchase plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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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