Credit Agricole S A Sells 27,591 Shares of Arista Networks, Inc. $ANET

Key Points

• Credit Agricole S A has reduced its holdings in Arista Networks, Inc. by 18.3%, now owning 123,321 shares worth approximately $9.55 million following the sale of 27,591 shares during the first quarter.
• CEO Jayshree Ullal sold 192,979 shares of Arista Networks stock for over $26.95 million, resulting in a 3.32% decrease in her position, while company insiders sold a total of 5.8 million shares valued at $721.68 million in the last quarter.
• Arista Networks reported a 30.4% year-over-year revenue increase with earnings per share of $0.73 for the last quarter, surpassing analysts' expectations, alongside a stock buyback program authorized to repurchase $1.50 billion in outstanding shares.

Credit Agricole S A lessened its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,321 shares of the technology company's stock after selling 27,591 shares during the quarter. Credit Agricole S A's holdings in Arista Networks were worth $9,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP grew its holdings in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the period. Dunhill Financial LLC grew its holdings in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after purchasing an additional 212 shares during the period. McIlrath & Eck LLC purchased a new stake in Arista Networks in the fourth quarter worth about $35,000. HighMark Wealth Management LLC grew its holdings in Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after purchasing an additional 230 shares during the period. Finally, West Paces Advisors Inc. grew its holdings in Arista Networks by 214.5% in the fourth quarter. West Paces Advisors Inc. now owns 368 shares of the technology company's stock worth $41,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 0.9%

ANET stock traded up $1.1360 on Friday, hitting $133.1660. The company had a trading volume of 7,358,652 shares, compared to its average volume of 10,034,801. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $141.99. The stock's 50-day simple moving average is $113.86 and its 200 day simple moving average is $96.80. The stock has a market cap of $167.37 billion, a price-to-earnings ratio of 52.38, a P/E/G ratio of 3.13 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its board has authorized a stock buyback program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 192,979 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $139.67, for a total value of $26,953,376.93. Following the transaction, the chief executive officer directly owned 5,623,721 shares in the company, valued at approximately $785,465,112.07. This trade represents a 3.32% 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, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was 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 owned 12,976 shares in the company, valued at $1,771,353.76. The trade was a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,823,574 shares of company stock worth $721,676,802. 3.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ANET. Wolfe Research began coverage on shares of Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Wedbush began coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set an "outperform" rating on the stock. KeyCorp increased their price target on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their price target on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

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.