Dark Forest Capital Management LP Takes $5.50 Million Position in Arista Networks, Inc. $ANET

Key Points

• Dark Forest Capital Management LP has acquired a new stake in Arista Networks, purchasing 71,018 shares valued at approximately $5.5 million.
• Arista Networks reported a 30.4% year-over-year revenue increase to $2.20 billion and earnings per share of $0.73, exceeding analyst expectations.
• The company's board approved a $1.5 billion share repurchase program, indicating confidence in the stock's value.

Dark Forest Capital Management LP acquired a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 71,018 shares of the technology company's stock, valued at approximately $5,502,000.

Other large investors also recently bought and sold shares of the company. HighMark Wealth Management LLC grew its position in Arista Networks by 179.7% in 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 in the last quarter. Quarry LP grew its position in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Dunhill Financial LLC grew its position in Arista Networks by 415.7% in 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 in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Arista Networks during the 1st quarter valued at approximately $30,000. Finally, Saudi Central Bank acquired a new stake in shares of Arista Networks during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Up 1.0%

NYSE ANET traded up $1.36 during trading hours on Wednesday, hitting $137.23. The company had a trading volume of 6,781,661 shares, compared to its average volume of 10,354,698. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $141.99. The business has a fifty day simple moving average of $120.01 and a 200-day simple moving average of $97.84. The firm has a market cap of $172.47 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 3.21 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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. The company 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 quarterly revenue was up 30.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the sale, the chief executive officer directly owned 5,698,074 shares in the company, valued at $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,839,614 shares of company stock worth $724,163,153 in the last quarter. 3.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Evercore ISI set a $150.00 price target on shares of Arista Networks and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC raised their price objective on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.79.

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.