Assetmark Inc. Sells 118,930 Shares of Arista Networks, Inc. $ANET

Key Points

• Assetmark Inc. cut its stake in Arista Networks by 39.1% in the first quarter, selling 118,930 shares and leaving it with 185,578 shares valued at about $22.8 million.
• Wall Street remains largely optimistic on Arista Networks, with analysts maintaining a Buy consensus and an average price target of $188.95.
• Arista reported strong quarterly results, posting $0.87 EPS and $2.71 billion in revenue, both ahead of expectations, while revenue rose 35.1% year over year.

Assetmark Inc. reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,578 shares of the technology company's stock after selling 118,930 shares during the quarter. Assetmark Inc.'s holdings in Arista Networks were worth $22,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Board of the Pension Protection Fund bought a new stake in Arista Networks during the fourth quarter worth about $26,000. Sankala Group LLC bought a new position in Arista Networks in the 4th quarter valued at about $27,000. Prosperity Bancshares Inc bought a new position in Arista Networks in the 4th quarter valued at about $28,000. Main Street Group LTD bought a new position in Arista Networks in the 1st quarter valued at about $26,000. Finally, Quarry LP acquired a new position in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ANET. Citigroup cut their price target on shares of Arista Networks from $176.00 to $173.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Wolfe Research reissued an "outperform" rating and issued a $175.00 price objective on shares of Arista Networks in a research note on Wednesday, June 10th. Wells Fargo & Company restated an "overweight" rating and set a $200.00 price objective (up from $185.00) on shares of Arista Networks in a research report on Thursday. Morgan Stanley restated an "overweight" rating and set a $190.00 target price (up from $180.00) on shares of Arista Networks in a research note on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft raised Arista Networks to a "buy" rating in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Buy" and an average target price of $188.95.

Insider Transactions at Arista Networks

In related news, insider Kenneth Duda sold 17,333 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $171.42, for a total transaction of $2,971,222.86. Following the sale, the insider owned 12,976 shares in the company, valued at $2,224,345.92. The trade was a 57.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 234,578 shares of the company's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $187.18, for a total value of $43,908,310.04. Following the completion of the transaction, the chief executive officer directly owned 5,134,207 shares of the company's stock, valued at approximately $961,020,866.26. The trade was a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,092,983 shares of company stock worth $519,161,650. 2.70% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $168.60 on Friday. Arista Networks, Inc. has a fifty-two week low of $106.99 and a fifty-two week high of $189.82. The firm has a market capitalization of $212.30 billion, a P/E ratio of 57.74, a P/E/G ratio of 2.60 and a beta of 1.60. The company's 50 day moving average price is $161.75 and its two-hundred day moving average price is $147.25.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.62 billion. Arista Networks had a net margin of 38.32% and a return on equity of 30.10%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, analysts expect that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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