DAVENPORT & Co LLC Boosts Stake in Arista Networks, Inc. $ANET

Key Points

• DAVENPORT & Co LLC increased its stake in Arista Networks, Inc. by 13.5% during the second quarter, owning 34,286 shares worth approximately $3.51 million.
• CEO Jayshree Ullal sold over 1.78 million shares for about $243.2 million, reducing their position by 23.86%.
• Analysts have recently upgraded Arista Networks with price targets between $175.00 and $179.00, reflecting a consensus rating of "Moderate Buy".

DAVENPORT & Co LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 13.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,286 shares of the technology company's stock after purchasing an additional 4,090 shares during the quarter. DAVENPORT & Co LLC's holdings in Arista Networks were worth $3,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Nuveen LLC purchased a new stake in Arista Networks in the first quarter valued at $933,626,000. AQR Capital Management LLC raised its holdings in shares of Arista Networks by 153.8% in the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock valued at $584,119,000 after buying an additional 4,678,372 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Arista Networks by 37.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock valued at $740,126,000 after buying an additional 2,594,184 shares during the period. Amundi raised its holdings in shares of Arista Networks by 35.3% in the 1st quarter. Amundi now owns 8,582,109 shares of the technology company's stock valued at $611,852,000 after buying an additional 2,240,045 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Arista Networks by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after buying an additional 1,889,198 shares during the period. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 6,678,904 shares of company stock valued at $894,021,161. Corporate insiders own 3.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ANET shares. Wells Fargo & Company boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 12th. The Goldman Sachs Group boosted their price objective on Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a report on Friday, September 12th. Barclays boosted their price objective on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a report on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price objective on the stock in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Arista Networks Price Performance

ANET opened at $157.37 on Thursday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $158.51. The stock has a market capitalization of $197.79 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.03 and a beta of 1.47. The business has a fifty day moving average price of $139.41 and a 200 day moving average price of $107.74.

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

Arista Networks 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.