Confluence Wealth Services Inc. Acquires Shares of 2,206 Arista Networks, Inc. $ANET

Key Points

• Confluence Wealth Services Inc. has acquired 2,206 shares of Arista Networks, Inc. valued at approximately $226,000, indicating growing interest from institutional investors in the tech company's stock.
• Recent insider sales included Charles H. Giancarlo selling 8,000 shares for over $1.17 million, and Kenneth Duda selling 30,000 shares valued at about $4.25 million, reflecting a significant decrease in their ownership stakes.
• Brokerages have raised their price targets for Arista Networks, with JPMorgan Chase & Co. increasing its target from $150 to $175, highlighting expected growth and positive market sentiment toward the company's performance.

Confluence Wealth Services Inc. bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,206 shares of the technology company's stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANET. HighMark Wealth Management LLC lifted its stake in 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 purchasing an additional 230 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Arista Networks in the 1st quarter valued at $30,000. Saudi Central Bank acquired a new stake in shares of Arista Networks during the 1st quarter valued at $33,000. Tradewinds Capital Management LLC grew its position in Arista Networks by 45.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after acquiring an additional 143 shares during the last quarter. Finally, Costello Asset Management INC increased its holdings in Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock worth $35,000 after purchasing an additional 154 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total transaction of $1,179,920.00. Following the transaction, the director owned 41,784 shares in the company, valued at approximately $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. 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 firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total value of $4,253,700.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,678,904 shares of company stock valued at $894,021,161. Corporate insiders own 3.39% of the company's stock.

Arista Networks Price Performance

NYSE ANET opened at $149.61 on Tuesday. The stock has a market capitalization of $188.04 billion, a P/E ratio of 58.84, a P/E/G ratio of 3.03 and a beta of 1.47. The business has a 50 day simple moving average of $138.18 and a 200 day simple moving average of $107.14. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ANET. JPMorgan Chase & Co. lifted their price target on 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 raised their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. BNP Paribas Exane raised shares of Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price objective on the stock in a research note on Thursday, September 25th. Piper Sandler lifted their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, BNP Paribas upgraded Arista Networks from a "hold" rating to an "outperform" rating in a research report on Thursday, September 25th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

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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