Burney Co. Cuts Position in Arista Networks, Inc. $ANET

Key Points

• Burney Co. cut its Arista Networks stake by 36.8% in Q1, selling 136,608 shares and ending with 234,272 shares worth about $28.8 million.
• Several insiders sold shares during the period, including Director Charles H. Giancarlo and CEO Jayshree Ullal; insiders sold 2.9 million shares worth about $474.4 million last quarter.
• Analysts remain generally positive on ANET, with an average Buy rating and a consensus price target of $187.63; the company also beat Q1 earnings and revenue expectations, with revenue up 35.1% year over year.

Burney Co. decreased its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,272 shares of the technology company's stock after selling 136,608 shares during the quarter. Arista Networks accounts for about 0.9% of Burney Co.'s holdings, making the stock its 13th biggest holding. Burney Co.'s holdings in Arista Networks were worth $28,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Board of the Pension Protection Fund purchased a new stake in shares of Arista Networks in the 4th quarter valued at approximately $26,000. Sankala Group LLC purchased a new stake in shares of Arista Networks during the 4th quarter worth $27,000. Prosperity Bancshares Inc acquired a new position in shares of Arista Networks during the fourth quarter worth $28,000. Knuff & Co LLC purchased a new position in Arista Networks in the third quarter valued at $29,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in Arista Networks in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $167.06, for a total transaction of $1,336,480.00. Following the transaction, the director owned 192,333 shares in the company, valued at $32,131,150.98. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 13,809 shares of Arista Networks stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.04, for a total value of $2,140,947.36. Following the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,537,531.68. This trade represents a 58.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 2,907,080 shares of company stock worth $474,355,842. Insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ANET. Citigroup cut their price target on Arista Networks from $176.00 to $173.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings downgraded Arista Networks from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 15th. KeyCorp reiterated an "overweight" rating and issued a $200.00 price objective (up from $178.00) on shares of Arista Networks in a report on Thursday, June 18th. Morgan Stanley restated an "overweight" rating and set a $190.00 target price (up from $180.00) on shares of Arista Networks in a research note on Friday, June 12th. Finally, Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Buy" and an average price target of $187.63.

Arista Networks Price Performance

Shares of ANET opened at $173.29 on Tuesday. Arista Networks, Inc. has a 1-year low of $100.33 and a 1-year high of $179.80. The stock has a market cap of $218.21 billion, a PE ratio of 59.35, a price-to-earnings-growth ratio of 2.47 and a beta of 1.60. The firm has a fifty day moving average price of $159.07 and a 200 day moving average price of $144.04.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company posted $0.65 earnings per share. The business's quarterly revenue was up 35.1% compared to the same quarter last year. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 3.27 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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