Axxcess Wealth Management LLC Sells 18,111 Shares of Arista Networks, Inc. $ANET

Key Points

• Axxcess Wealth Management LLC reduced its stake in Arista Networks by 48.1%, selling 18,111 shares during the second quarter and now holds 19,524 shares valued at approximately $1.998 million.
• CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks for over $243 million, resulting in a 23.86% decrease in her ownership of the company.
• Arista Networks reported a quarterly earnings per share (EPS) of $0.73, exceeding expectations, and projected an EPS of 2.2 for the current fiscal year with an overall revenue increase of 30.4% year-over-year.

Axxcess Wealth Management LLC cut its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 48.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,524 shares of the technology company's stock after selling 18,111 shares during the quarter. Axxcess Wealth Management LLC's holdings in Arista Networks were worth $1,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ANET. HighMark Wealth Management LLC boosted its position in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Arista Networks in the first quarter worth $30,000. Saudi Central Bank bought a new stake in Arista Networks in the first quarter worth $33,000. REAP Financial Group LLC boosted its holdings in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its holdings in Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after acquiring an additional 143 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated 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 owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,622,904 shares of company stock valued at $887,794,521 over the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Arista Networks stock opened at $143.46 on Thursday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $162.68. The stock has a market capitalization of $180.31 billion, a PE ratio of 56.43, a price-to-earnings-growth ratio of 2.89 and a beta of 1.47. The business's fifty day moving average is $141.90 and its 200 day moving average is $110.02.

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

Analysts Set New Price Targets

Several equities research analysts have commented on ANET shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Arista Networks in a report on Tuesday. Piper Sandler boosted their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Barclays boosted their target price on Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Morgan Stanley set a $171.00 target price on Arista Networks and gave the stock an "overweight" rating in a report on Friday, October 10th. Finally, Melius Research boosted their target price on Arista Networks from $160.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.94.

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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