Belpointe Asset Management LLC Has $722,000 Stake in Arista Networks, Inc. $ANET

Key Points

• Belpointe Asset Management LLC significantly cut its stake in Arista Networks by 68.3%, holding 7,057 shares worth $722,000 after selling 15,180 shares in the second quarter.
• A variety of analysts have upgraded their target prices for Arista Networks, with KeyCorp raising theirs from $115 to $145, while Wells Fargo increased theirs from $150 to $175.
• In a major move, insider Kenneth Duda sold 30,000 shares of Arista Networks for $4.25 million, representing a drastic 69.81% decrease in his ownership of the stock.

Belpointe Asset Management LLC decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 68.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,057 shares of the technology company's stock after selling 15,180 shares during the period. Belpointe Asset Management LLC's holdings in Arista Networks were worth $722,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. HighMark Wealth Management LLC grew its holdings in 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 last quarter. Cloud Capital Management LLC acquired a new stake in Arista Networks in the 1st quarter valued at approximately $30,000. Saudi Central Bank acquired a new stake in Arista Networks in the 1st quarter valued at approximately $33,000. Tradewinds Capital Management LLC grew its holdings in 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 buying an additional 143 shares during the last quarter. Finally, Costello Asset Management INC grew its holdings 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 buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on ANET shares. KeyCorp raised their target price on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Piper Sandler lifted their price objective on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Zacks Research lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, UBS Group lifted their price objective on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Nineteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Insider Buying and Selling

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company's stock, valued at $1,839,867.04. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total value of $1,179,920.00. Following the completion of the transaction, the director directly owned 41,784 shares of the company's stock, valued at approximately $6,162,722.16. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,678,904 shares of company stock valued at $894,021,161 over the last three months. Company insiders own 3.39% of the company's stock.

Arista Networks Stock Performance

Shares of ANET opened at $157.37 on Thursday. The stock has a fifty day moving average price of $139.41 and a two-hundred day moving average price of $107.74. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $158.51. The company has a market cap of $197.79 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.03 and a beta of 1.47.

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 for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's quarterly revenue was up 30.4% on a year-over-year basis. 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. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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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