NorthCrest Asset Manangement LLC Lowers Holdings in Arista Networks, Inc. $ANET

Key Points

• NorthCrest Asset Management LLC reduced its stake in Arista Networks, Inc. by 23.9%, now holding 12,170 shares worth approximately $1.25 million.
• Arista Networks reported $2.20 billion in revenue for the last quarter, exceeding analyst estimates of $2.11 billion, with a net margin of 40.90%.
• Recent analyst ratings for Arista Networks include upgrades to "buy" from multiple firms, with the average price target set at $157.88.

NorthCrest Asset Manangement LLC lessened its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 23.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,170 shares of the technology company's stock after selling 3,817 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Arista Networks were worth $1,248,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after acquiring an additional 5,955 shares during the period. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the fourth quarter worth $202,000. Bank Pictet & Cie Europe AG lifted its holdings in Arista Networks by 433.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock worth $1,200,000 after acquiring an additional 8,822 shares during the period. Bison Wealth LLC bought a new stake in Arista Networks during the fourth quarter worth $251,000. Finally, Waverly Advisors LLC lifted its holdings in Arista Networks by 1,426.5% during the fourth quarter. Waverly Advisors LLC now owns 12,609 shares of the technology company's stock worth $1,394,000 after acquiring an additional 11,783 shares during the period. Institutional investors own 82.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ANET shares. Wells Fargo & Company lifted their price target on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. The Goldman Sachs Group raised their target price on Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Melius Research lifted their price target on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wedbush assumed coverage on Arista Networks in a research note on Wednesday, May 28th. They set an "outperform" rating for the company. Finally, Redburn Atlantic started coverage on Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Arista Networks has an average rating of "Moderate Buy" and an average price target of $157.88.

Arista Networks Price Performance

NYSE:ANET traded down $0.36 during mid-day trading on Tuesday, reaching $145.04. 1,778,027 shares of the company's stock traded hands, compared to its average volume of 10,372,266. 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 $131.59 and a 200-day moving average price of $102.73. The firm has a market capitalization of $182.29 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 3.12 and a beta of 1.49.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business'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. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total value of $4,253,700.00. Following the transaction, the insider directly owned 12,976 shares of the company's stock, valued at approximately $1,839,867.04. This represents a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the transaction, the chief executive officer directly owned 5,383,207 shares in the company, valued at $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,582,614 shares of company stock worth $983,487,717. Insiders own 3.54% of the company's stock.

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.