Campbell & CO Investment Adviser LLC Sells 16,592 Shares of Arista Networks, Inc. $ANET

Key Points

• Campbell & CO Investment Adviser LLC reduced its stake in Arista Networks by 47%, selling 16,592 shares in the first quarter, leaving it with 18,747 shares valued at approximately $1.45 million.
• Several analysts have recently increased their target prices for Arista Networks, with Citigroup setting a new target of $136 and Goldman Sachs raising theirs to $155, reflecting a bullish outlook on the stock.
• Arista Networks reported a 30.4% year-over-year revenue growth, achieving $2.20 billion in revenue and exceeding analyst expectations for both earnings and revenue in its latest quarterly report.

Campbell & CO Investment Adviser LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 47.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,747 shares of the technology company's stock after selling 16,592 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Arista Networks were worth $1,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in shares of Arista Networks by 381.5% in the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Arista Networks in the 4th quarter valued at $35,000. HighMark Wealth Management LLC boosted its holdings in shares of 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 in the last quarter. Finally, West Paces Advisors Inc. boosted its holdings in shares of Arista Networks by 214.5% in the 4th quarter. West Paces Advisors Inc. now owns 368 shares of the technology company's stock valued at $41,000 after buying an additional 251 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Up 2.2%

NYSE ANET traded up $2.90 on Thursday, hitting $136.17. 8,365,203 shares of the company were exchanged, compared to its average volume of 10,408,971. The firm has a 50 day moving average of $116.38 and a two-hundred day moving average of $97.29. The company has a market cap of $171.15 billion, a P/E ratio of 53.56, a P/E/G ratio of 3.16 and a beta of 1.37. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $141.99.

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. The company had revenue of $2.20 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has authorized a stock repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research reports. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. KGI Securities downgraded Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Evercore ISI set a $150.00 price target on Arista Networks and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Needham & Company LLC increased their price objective on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Barclays reissued an "overweight" rating and set a $151.00 target price (up from $119.00) on shares of Arista Networks in a research note on Thursday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 5,847,614 shares of company stock worth $724,868,593 over the last ninety days. 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.