Avenir Corp Makes New Investment in Arista Networks, Inc. $ANET

Key Points

• Avenir Corp has acquired a new position in Arista Networks, Inc. by purchasing 3,370 shares valued at approximately $261,000 during the first quarter of the year.
• Arista Networks recently reported $0.73 earnings per share (EPS) for the quarter, exceeding the consensus estimate of $0.65, and experienced a 30.4% year-over-year revenue increase.
• The company's Board of Directors has initiated a $1.50 billion share buyback program, indicating a belief that its shares are currently undervalued.

Avenir Corp bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,370 shares of the technology company's stock, valued at approximately $261,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Arista Networks by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock worth $7,581,955,000 after purchasing an additional 1,771,982 shares during the last quarter. Cresset Asset Management LLC boosted its stake in Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Nuveen LLC acquired a new position in shares of Arista Networks during the 1st quarter valued at about $933,626,000. Nuveen Asset Management LLC boosted its position in shares of Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after acquiring an additional 8,671,235 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after acquiring an additional 372,677 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Trading Up 1.0%

Shares of ANET opened at $134.32 on Wednesday. The firm has a market cap of $168.82 billion, a P/E ratio of 52.83, a price-to-earnings-growth ratio of 3.13 and a beta of 1.37. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $141.99. The company's 50-day moving average price is $115.52 and its 200 day moving average price is $97.04.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. Arista Networks's revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays reissued an "overweight" rating and set a $151.00 price target (up previously from $119.00) on shares of Arista Networks in a research report on Thursday, August 7th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $106.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Wedbush initiated coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. Finally, Citigroup boosted their price objective on shares of Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.07.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 192,979 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $139.67, for a total transaction of $26,953,376.93. Following the sale, the chief executive officer directly owned 5,623,721 shares in the company, valued at $785,465,112.07. This represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director owned 57,784 shares in the company, valued at $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,823,574 shares of company stock worth $721,676,802 over the last three months. Company 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.

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