Flputnam Investment Management Co. Trims Holdings in Arista Networks, Inc. $ANET

Key Points

• Flputnam Investment Management Co. has reduced its stake in Arista Networks by 40.3%, selling 46,400 shares and leaving it with 68,609 shares valued at approximately $5.3 million.
• CEO Jayshree Ullal sold 1,785,165 shares, representing a 23.86% decrease in their ownership, totaling over $243 million from the transaction.
• Recent analysts' reports show a positive outlook for Arista Networks with several upgrades, including a price target increase from $115 to $155 by UBS Group, reflecting strong investor confidence.

Flputnam Investment Management Co. decreased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,609 shares of the technology company's stock after selling 46,400 shares during the period. Flputnam Investment Management Co.'s holdings in Arista Networks were worth $5,316,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ANET. Cresset Asset Management LLC lifted its holdings in shares of Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the last quarter. Nuveen LLC acquired a new position in shares of Arista Networks in the 1st quarter worth approximately $933,626,000. Nuveen Asset Management LLC increased its stake in Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock worth $1,248,169,000 after buying an additional 8,671,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arista Networks by 278.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,641,326 shares of the technology company's stock worth $955,126,000 after buying an additional 6,357,753 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Arista Networks by 289.1% during the 4th quarter. Ameriprise Financial Inc. now owns 7,875,759 shares of the technology company's stock worth $870,513,000 after buying an additional 5,851,653 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction on 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 in the company, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 5,839,614 shares of company stock valued at $724,163,153. Corporate insiders own 3.54% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley restated an "overweight" rating and issued a $135.00 price target (up previously from $125.00) on shares of Arista Networks in a research note on Wednesday. Redburn Atlantic assumed coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target for the company. Finally, Needham & Company LLC boosted their price target on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Fourteen investment 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 has an average rating of "Moderate Buy" and an average price target of $138.79.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $3.84 during trading hours on Thursday, reaching $141.22. The stock had a trading volume of 6,574,446 shares, compared to its average volume of 10,328,202. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $142.50. The firm's 50 day moving average is $120.83 and its 200-day moving average is $98.11. The stock has a market capitalization of $177.49 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 3.21 and a beta of 1.50.

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. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The company's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current 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.