Wealth Enhancement Advisory Services LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,838 shares of the technology company's stock after selling 7,889 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Arista Networks were worth $27,049,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Arista Networks during the first quarter worth approximately $933,626,000. AQR Capital Management LLC increased its stake in Arista Networks by 153.8% during the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock valued at $584,119,000 after purchasing an additional 4,678,372 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Arista Networks by 37.3% during the first 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 during the last quarter. Amundi lifted its position in Arista Networks by 35.3% in the 1st quarter. Amundi now owns 8,582,109 shares of the technology company's stock valued at $611,852,000 after acquiring an additional 2,240,045 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY lifted its holdings in shares of Arista Networks by 291.2% in the fourth quarter. Bristol John W & Co. Inc. NY now owns 2,756,449 shares of the technology company's stock valued at $304,670,000 after purchasing an additional 2,051,770 shares in the last quarter. Institutional investors own 82.47% of the company's stock.
Insider Activity
In related news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated 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 directly owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 7,582,614 shares of company stock worth $983,487,717 in the last 90 days. 3.54% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Needham & Company LLC increased their price objective on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Piper Sandler boosted their target price on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley increased their price target on Arista Networks from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Finally, Citigroup raised their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.88.
Get Our Latest Stock Analysis on Arista Networks
Arista Networks Price Performance
NYSE:ANET traded down $4.32 during mid-day trading on Monday, reaching $145.29. 5,794,595 shares of the company's stock traded hands, compared to its average volume of 10,404,019. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $156.32. The company has a 50 day moving average price of $130.85 and a 200-day moving average price of $102.30. The firm has a market capitalization of $182.61 billion, a price-to-earnings ratio of 57.23, a PEG ratio of 3.12 and a beta of 1.49.
Arista Networks (NYSE:ANET - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.
About Arista Networks
(
Free Report)
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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