Clark Capital Management Group Inc. Sells 15,536 Shares of Arista Networks, Inc. $ANET

Key Points

• Clark Capital Management Group Inc. reduced its stake in Arista Networks by 2.9%, now holding 511,201 shares worth approximately $39.6 million after selling 15,536 shares in the first quarter.
• Arista Networks reported a strong quarterly performance with a 30.4% year-over-year revenue increase and earnings per share of $0.73, exceeding analyst expectations.
• The company's stock was recently up 2.8%, trading at $141.22, with a market cap of $177.49 billion and a consensus rating of "Moderate Buy" among analysts.

Clark Capital Management Group Inc. reduced its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 511,201 shares of the technology company's stock after selling 15,536 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Arista Networks were worth $39,608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighMark Wealth Management LLC lifted its holdings in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares during the period. Cloud Capital Management LLC bought a new position in shares of Arista Networks during the first quarter valued at $30,000. Saudi Central Bank bought a new position in shares of Arista Networks during the first quarter valued at $33,000. Finally, McIlrath & Eck LLC bought a new position in shares of Arista Networks during the fourth quarter valued at $35,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 2.8%

Arista Networks stock opened at $141.22 on Friday. The stock has a 50-day simple moving average of $121.62 and a 200 day simple moving average of $98.35. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $142.50. The stock has a market capitalization of $177.49 billion, a price-to-earnings ratio of 55.54, a P/E/G ratio of 3.23 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue was up 30.4% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

ANET has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Evercore ISI set a $150.00 price objective on Arista Networks and gave the company an "outperform" rating in a report on Wednesday, August 6th. Barclays reissued an "overweight" rating and set a $151.00 price objective (up from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $135.00 price target (up from $125.00) on shares of Arista Networks in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.79.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $136.51, for a total value of $4,095,300.00. Following the completion of the sale, the senior vice president directly owned 12,976 shares in the company, valued at $1,771,353.76. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total value of $936,080.00. Following the completion of the sale, the director owned 57,784 shares of the company's stock, valued at approximately $6,761,305.84. The trade was a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,839,614 shares of company stock worth $724,163,153 over the last three months. 3.39% of the stock is currently owned by company 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.

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