Ashton Thomas Private Wealth LLC Increases Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Arista Networks by 8.2%, acquiring 2,697 shares for a total of 35,526 shares valued at approximately $2.75 million.
• Arista Networks' recent financial results showed a 30.4% revenue increase year-over-year, with an EPS of $0.73, exceeding estimates by $0.08.
• Approximately 82.47% of Arista Networks' stock is owned by institutional investors, with numerous positions changing hands including new investments and increased stakes by various firms.

Ashton Thomas Private Wealth LLC grew its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,526 shares of the technology company's stock after buying an additional 2,697 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Arista Networks were worth $2,753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at about $35,000. HighMark Wealth Management LLC boosted its stake in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after buying an additional 230 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Arista Networks in the 1st quarter valued at about $30,000. Ameriflex Group Inc. purchased a new position in shares of Arista Networks in the 4th quarter valued at about $46,000. Finally, Saudi Central Bank acquired a new stake in shares of Arista Networks during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 6,334,926 shares of company stock valued at $795,392,998. Company insiders own 3.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ANET shares. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. KeyCorp raised their target price on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. BNP Paribas Exane lowered Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a research report on Wednesday, June 11th. Evercore ISI set a $150.00 target price on Arista Networks and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler raised their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $138.79.

Arista Networks Stock Up 1.2%

ANET traded up $1.82 during trading on Thursday, hitting $152.54. 10,240,007 shares of the stock were exchanged, compared to its average volume of 10,351,781. The firm has a market capitalization of $191.72 billion, a P/E ratio of 59.80, a PEG ratio of 3.34 and a beta of 1.50. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The stock has a fifty day moving average price of $125.09 and a two-hundred day moving average price of $99.44.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates 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 was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks Company 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.