Castle Rock Wealth Management LLC Decreases Position in Arista Networks, Inc. $ANET

Key Points

• Castle Rock Wealth Management LLC reduced its stake in Arista Networks by 77.9%, holding 2,821 shares valued at $317,000 after selling nearly 10,000 shares in the second quarter.
• Insider transactions have been notable, with Director Charles H. Giancarlo selling 8,000 shares and CEO Jayshree Ullal selling over 1.2 million shares, indicating a decrease in their ownership in the company.
• Despite recent insider sales, Arista Networks stock has seen a rise of 8.3% and currently has a consensus rating of "Moderate Buy" from 19 analysts, with an average price target of $162.00.

Castle Rock Wealth Management LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 77.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,821 shares of the technology company's stock after selling 9,940 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Arista Networks were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Winthrop Advisory Group LLC purchased a new stake in Arista Networks during the second quarter worth $210,000. Citizens National Bank Trust Department boosted its position in Arista Networks by 141.0% during the second quarter. Citizens National Bank Trust Department now owns 10,483 shares of the technology company's stock worth $1,073,000 after purchasing an additional 6,133 shares in the last quarter. REAP Financial Group LLC boosted its position in Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Arista Networks in the second quarter worth $245,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Arista Networks by 30.1% in the second quarter. Venturi Wealth Management LLC now owns 15,371 shares of the technology company's stock worth $1,573,000 after acquiring an additional 3,558 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total transaction 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. The trade was a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares of the company's stock, valued at approximately $799,567,735.71. This trade represents a 18.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,678,904 shares of company stock valued at $894,021,161. Company insiders own 3.39% of the company's stock.

Arista Networks Trading Up 8.3%

Arista Networks stock opened at $157.37 on Thursday. The firm has a market capitalization of $197.79 billion, a P/E ratio of 61.90, a PEG ratio of 3.03 and a beta of 1.47. The stock has a fifty day moving average price of $139.41 and a 200 day moving average price of $107.74. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $158.51.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm 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%.The business's quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Melius Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, September 12th. William Blair reissued an "outperform" rating on shares of Arista Networks in a report on Friday, September 12th. Piper Sandler boosted their price target on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Citigroup boosted their price target on Arista Networks from $136.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Nineteen investment 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, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.