Dimensional Fund Advisors LP Raises Holdings in Arista Networks, Inc. $ANET

Dimensional Fund Advisors LP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,269,335 shares of the technology company's stock after buying an additional 28,251 shares during the quarter. Dimensional Fund Advisors LP owned about 0.18% of Arista Networks worth $175,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC grew 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 worth $28,000 after buying an additional 230 shares during the last quarter. Quarry LP grew its holdings in shares of Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Dunhill Financial LLC grew 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 worth $29,000 after buying an additional 212 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Arista Networks during the first quarter worth about $30,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Arista Networks during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Trading Down 4.1%

ANET stock opened at $132.4360 on Wednesday. The firm has a 50 day moving average of $111.58 and a 200-day moving average of $96.41. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $141.99. The company has a market cap of $166.45 billion, a price-to-earnings ratio of 52.09, a PEG ratio of 3.24 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $0.53 EPS. The company'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. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at $776,191,640.28. The trade was a 23.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 5,767,574 shares of company stock worth $714,032,242. Insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ANET. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. The Goldman Sachs Group raised their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. UBS Group raised their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. BNP Paribas Exane downgraded shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a research report on Wednesday, June 11th. Finally, Evercore ISI set a $150.00 price objective on shares of Arista Networks and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.07.

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

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.