BridgePort Financial Solutions LLC Buys New Position in Arista Networks, Inc. $ANET

Key Points

• BridgePort Financial Solutions LLC has acquired a new position in Arista Networks, purchasing 4,196 shares valued at approximately $429,000 during the 2nd quarter.
• Several hedge funds increased their holdings in Arista Networks, contributing to institutional investors owning 82.47% of the company's stock.
• Arista Networks reported a 30.4% year-over-year revenue increase in its latest quarterly earnings, outperforming expectations with a revenue of $2.20 billion.

BridgePort Financial Solutions LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,196 shares of the technology company's stock, valued at approximately $429,000.

Several other hedge funds also recently modified their holdings of ANET. Clarius Group LLC increased its position in Arista Networks by 25.8% during the second quarter. Clarius Group LLC now owns 4,470 shares of the technology company's stock worth $457,000 after acquiring an additional 916 shares during the period. Penobscot Investment Management Company Inc. grew its position in Arista Networks by 7.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company's stock worth $3,998,000 after purchasing an additional 2,815 shares during the last quarter. Elevate Capital Advisors LLC bought a new position in shares of Arista Networks during the 2nd quarter worth about $1,576,000. Sava Infond d.o.o. increased its holdings in shares of Arista Networks by 17.8% during the 2nd quarter. Sava Infond d.o.o. now owns 306,705 shares of the technology company's stock worth $31,379,000 after purchasing an additional 46,435 shares during the period. Finally, LGT Fund Management Co Ltd. acquired a new position in shares of Arista Networks during the second quarter valued at about $2,485,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 0.7%

Shares of Arista Networks stock opened at $145.51 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The firm's 50-day moving average price is $137.53 and its two-hundred day moving average price is $106.51. The stock has a market capitalization of $182.88 billion, a price-to-earnings ratio of 57.23, a P/E/G ratio of 3.03 and a beta of 1.47.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wolfe Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. Rosenblatt Securities boosted their price objective on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised their target price on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Arista Networks in a report on Saturday, September 27th. Finally, KeyCorp raised their price objective on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the sale, the chief executive officer owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 6,678,904 shares of company stock worth $894,021,161. 3.39% of the stock is owned by corporate insiders.

Arista Networks Company Profile

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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