Channel Wealth LLC Purchases Shares of 29,126 Arista Networks, Inc. $ANET

Key Points

• Channel Wealth LLC acquired 29,126 shares of Arista Networks valued at approximately $2.98 million in the second quarter, indicating strong institutional interest in the technology firm.
• Several research firms upgraded their ratings on Arista Networks, with Wells Fargo increasing the price target from $150 to $175 and Wolfe Research raising it from $160 to $185.
• Arista Networks reported Q2 earnings with an EPS of $0.73, exceeding estimates, and a revenue increase of 30.4% year-over-year, suggesting strong business performance.

Channel Wealth LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,126 shares of the technology company's stock, valued at approximately $2,980,000.

Other institutional investors also recently modified their holdings of the company. Taylor Hoffman Capital Management LLC boosted its holdings in shares of Arista Networks by 0.6% in the 2nd quarter. Taylor Hoffman Capital Management LLC now owns 139,635 shares of the technology company's stock worth $14,286,000 after acquiring an additional 884 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Arista Networks by 57.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 14,704 shares of the technology company's stock valued at $1,504,000 after purchasing an additional 5,364 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Arista Networks by 22.1% in the second quarter. Aaron Wealth Advisors LLC now owns 8,634 shares of the technology company's stock worth $883,000 after purchasing an additional 1,562 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Arista Networks during the second quarter worth $980,000. Finally, Catalyst Private Wealth LLC bought a new stake in shares of Arista Networks during the second quarter worth $241,000. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ANET. Wedbush initiated coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued an "outperform" rating for the company. Wells Fargo & Company increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Wolfe Research boosted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Barclays upped their price objective on Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Finally, UBS Group lifted their target price on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.

Arista Networks Trading Down 2.2%

NYSE:ANET opened at $142.24 on Wednesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The firm has a market capitalization of $178.78 billion, a price-to-earnings ratio of 55.94, a PEG ratio of 3.03 and a beta of 1.50. The business's 50-day moving average price is $128.50 and its two-hundred day moving average price is $100.92.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating 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 company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the business posted $0.53 EPS. Arista Networks's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the transaction, the director directly owned 57,784 shares of the company's stock, valued at $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 30,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the transaction, the senior vice president directly owned 12,976 shares of the company's stock, valued at $1,771,353.76. This trade represents a 69.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,526,614 shares of company stock worth $975,547,217. Company insiders own 3.54% of the company's stock.

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.

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