NewEdge Advisors LLC Sells 15,932 Shares of Arista Networks, Inc. $ANET

Key Points

• NewEdge Advisors LLC reduced its holdings in Arista Networks by 11.1%, now owning 127,146 shares valued at approximately $9.85 million.
• Arista Networks reported an earnings per share (EPS) of $0.73, surpassing analyst expectations by $0.08, and achieved a 30.4% increase in quarterly revenue year-over-year.
• Various analysts raised their target prices for Arista Networks, with JPMorgan Chase increasing theirs from $130 to $150, reflecting a bullish outlook on the stock.

NewEdge Advisors LLC decreased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,146 shares of the technology company's stock after selling 15,932 shares during the quarter. NewEdge Advisors LLC's holdings in Arista Networks were worth $9,851,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Clearstead Trust LLC grew its position in shares of Arista Networks by 5.1% during the 1st quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock valued at $190,000 after acquiring an additional 119 shares during the period. Pier 88 Investment Partners LLC lifted its position in shares of Arista Networks by 1.5% during the 1st quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock valued at $617,000 after buying an additional 120 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Arista Networks by 31.3% during the 1st quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock valued at $41,000 after acquiring an additional 125 shares during the period. PFG Advisors increased its holdings in Arista Networks by 2.7% in the 1st quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after acquiring an additional 131 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in Arista Networks by 9.4% during the 1st quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock worth $126,000 after acquiring an additional 139 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 5,839,614 shares of company stock worth $724,163,153. Insiders own 3.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ANET. Needham & Company LLC upped their price target on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Redburn Atlantic assumed coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Morgan Stanley reissued an "overweight" rating and set a $135.00 price target (up from $125.00) on shares of Arista Networks in a report on Wednesday, September 3rd. Finally, BNP Paribas cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and an average target price of $138.79.

Arista Networks Price Performance

Shares of NYSE ANET traded up $1.89 during midday trading on Tuesday, reaching $141.90. 6,033,986 shares of the stock traded hands, compared to its average volume of 10,299,180. The company's 50 day moving average is $123.24 and its 200 day moving average is $98.78. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $145.46. The stock has a market capitalization of $178.35 billion, a PE ratio of 55.81, a P/E/G ratio of 3.36 and a beta of 1.49.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (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 the consensus estimate of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. Arista Networks's revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.