Arista Networks, Inc. $ANET Shares Sold by Capital City Trust Co. FL

Key Points

• Capital City Trust Co. FL reduced its stake in Arista Networks by 17.0%, now holding 80,615 shares valued at approximately $8.25 million.
• CEO Jayshree Ullal sold over 1.7 million shares of Arista Networks, representing a 23.86% decrease in ownership, for a total value of $243 million.
• Several analysts have increased their price targets for Arista Networks, with Wells Fargo raising it from $150 to $175, indicating a strong bullish outlook.

Capital City Trust Co. FL lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 17.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 80,615 shares of the technology company's stock after selling 16,538 shares during the period. Arista Networks makes up approximately 2.1% of Capital City Trust Co. FL's investment portfolio, making the stock its 12th largest position. Capital City Trust Co. FL's holdings in Arista Networks were worth $8,248,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 1,771,982 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares during the period. Nuveen LLC acquired a new position in shares of Arista Networks in the first quarter valued at approximately $933,626,000. Northern Trust Corp increased its stake in Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock worth $799,244,000 after buying an additional 372,677 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Arista Networks by 37.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after buying an additional 2,594,184 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the sale, the chief executive officer owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,678,904 shares of company stock worth $894,021,161 over the last quarter. Insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ANET shares. Wells Fargo & Company boosted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. William Blair reiterated an "outperform" rating on shares of Arista Networks in a report on Friday, September 12th. KeyCorp upped their price target on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. UBS Group lifted their price objective on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Melius Research upped their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Arista Networks Price Performance

Shares of ANET opened at $145.51 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The stock has a market cap of $182.88 billion, a PE ratio of 57.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47. The firm has a fifty day moving average price of $137.53 and a 200 day moving average price of $106.51.

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 (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business's quarterly revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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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