Benchmark Investment Advisors LLC Has $2.89 Million Position in Arista Networks, Inc. $ANET

Key Points

• Benchmark Investment Advisors LLC increased its stake in Arista Networks by 62.5%, owning 37,344 shares valued at approximately $2.89 million, making it the firm's 17th biggest holding.
• Multiple hedge funds have substantially boosted their investments in Arista Networks, with HighMark Wealth Management increasing its stake by 179.7% in the first quarter, indicating strong interest from institutional investors.
• Arista Networks reported earnings that surpassed analysts' estimates with a 30.4% year-over-year revenue growth, and analysts have set an average price target of $138.07 for the stock.

Benchmark Investment Advisors LLC lifted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,344 shares of the technology company's stock after buying an additional 14,365 shares during the quarter. Arista Networks comprises 1.9% of Benchmark Investment Advisors LLC's investment portfolio, making the stock its 17th largest holding. Benchmark Investment Advisors LLC's holdings in Arista Networks were worth $2,893,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ANET. Brighton Jones LLC grew its stake in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after buying an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the fourth quarter worth approximately $202,000. Bank Pictet & Cie Europe AG boosted its position in Arista Networks by 433.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 10,856 shares of the technology company's stock worth $1,200,000 after purchasing an additional 8,822 shares during the period. Quarry LP grew its holdings in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of Arista Networks by 283.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 5,200 shares of the technology company's stock valued at $575,000 after purchasing an additional 3,844 shares during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of NYSE ANET traded up $0.23 during trading hours on Friday, reaching $136.46. The stock had a trading volume of 7,957,378 shares, compared to its average volume of 9,078,280. The business's fifty day moving average is $118.31 and its two-hundred day moving average is $97.36. The company has a market cap of $171.51 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 3.21 and a beta of 1.49. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion during 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%.Arista Networks's revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 5,847,614 shares of company stock valued at $724,868,593 in the last three months. Corporate insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ANET. JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $130.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group lifted 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. Wolfe Research began coverage on shares of Arista Networks in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. KeyCorp lifted their price target on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, UBS Group upped their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $138.07.

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.