NorthCrest Asset Manangement LLC Sells 3,817 Shares of 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 lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 23.9% during the second quarter, according to the company in its most recent 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 period. NorthCrest Asset Manangement LLC's holdings in Arista Networks were worth $1,248,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. HighMark Wealth Management LLC increased its holdings in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Arista Networks during the 1st quarter worth about $30,000. Saudi Central Bank bought a new stake in shares of Arista Networks in the 1st quarter valued at about $33,000. Tradewinds Capital Management LLC raised its holdings in shares of Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after purchasing an additional 143 shares during the period. Finally, Costello Asset Management INC lifted its stake in Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ANET. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Piper Sandler increased their price target on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Wolfe Research lifted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Redburn Atlantic assumed coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.88.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $4.32 during trading on Monday, reaching $145.29. 5,794,595 shares of the company's stock were exchanged, compared to its average volume of 10,404,019. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The company has a market cap of $182.61 billion, a P/E ratio of 57.23, a PEG ratio of 3.12 and a beta of 1.49. The firm's 50-day moving average price is $130.85 and its 200 day moving average price is $102.30.

Arista Networks (NYSE:ANET - Get Free Report) last released its 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 firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 7,582,614 shares of company stock valued at $983,487,717. 3.54% of the stock is owned by corporate insiders.

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.