Canvas Wealth Advisors LLC Takes Position in Arista Networks, Inc. $ANET

Key Points

• Canvas Wealth Advisors LLC purchased 2,233 shares of Arista Networks, valued at approximately $228,000, marking its new position in the technology company.
• Brokerages have optimistic projections for Arista Networks, with Wolfe Research raising the target price to $185.00 and a collective average target price of $163.94.
• Arista Networks reported strong quarterly earnings, outperforming expectations with $0.73 EPS and $2.20 billion in revenue, reflecting a 30.4% year-over-year increase.

Canvas Wealth Advisors LLC bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 2,233 shares of the technology company's stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ANET. Vanguard Group Inc. increased its position in Arista Networks by 1.8% during the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after acquiring an additional 1,771,982 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Arista Networks by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock worth $1,778,880,000 after purchasing an additional 1,889,198 shares during the period. Nuveen LLC purchased a new position in shares of Arista Networks during the 1st quarter worth about $933,626,000. Northern Trust Corp grew its holdings in Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after purchasing an additional 372,677 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Arista Networks by 37.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after purchasing an additional 2,594,184 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ANET. Wolfe Research boosted their target price on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price objective for the company in a report on Thursday, September 25th. Wells Fargo & Company upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. BNP Paribas upgraded Arista Networks from a "hold" rating to an "outperform" rating in a research note on Thursday, September 25th. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $163.94.

Arista Networks Stock Up 2.3%

Shares of NYSE ANET opened at $146.40 on Tuesday. The business has a fifty day simple moving average of $142.29 and a two-hundred day simple moving average of $112.00. The firm has a market cap of $184.01 billion, a PE ratio of 57.58, a price-to-earnings-growth ratio of 2.98 and a beta of 1.47. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $162.68.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion for 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 business's revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 41,784 shares of the company's stock, valued at approximately $6,162,722.16. This represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total value of $4,253,700.00. Following the sale, the insider owned 12,976 shares of the company's stock, valued at approximately $1,839,867.04. This represents a 69.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,622,904 shares of company stock worth $887,794,521. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks 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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