DnB Asset Management AS Buys 427,982 Shares of Arista Networks, Inc. $ANET

Key Points

• DnB Asset Management AS significantly increased its stake in Arista Networks by 220.6%, acquiring an additional 427,982 shares during the first quarter, bringing their total holdings to 622,011 shares valued at approximately $48.19 million.
• Major investments from other large institutional investors include Alliancebernstein L.P. and AQR Capital Management LLC, with AQR growing its stake by 153.8%, highlighting strong institutional interest in Arista Networks.
• Arista Networks recently reported a quarterly profit of $0.73 per share, exceeding expectations, with revenues of $2.20 billion, reflecting a strong year-over-year growth of 30.4%.

DnB Asset Management AS grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 220.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 622,011 shares of the technology company's stock after purchasing an additional 427,982 shares during the period. DnB Asset Management AS's holdings in Arista Networks were worth $48,193,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ANET. Clearstead Trust LLC lifted its holdings in shares of Arista Networks by 5.1% during the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock valued at $190,000 after acquiring an additional 119 shares during the period. Pier 88 Investment Partners LLC grew its position in Arista Networks by 1.5% during the 1st quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after acquiring an additional 120 shares during the last quarter. Optimum Investment Advisors grew its position in Arista Networks by 31.3% during the 1st quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after acquiring an additional 125 shares during the last quarter. PFG Advisors grew its position in Arista Networks by 2.7% during the 1st quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after acquiring an additional 131 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Arista Networks by 9.4% during the 1st quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock worth $126,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Up 1.2%

NYSE ANET traded up $1.66 on Friday, reaching $142.83. The company had a trading volume of 9,564,681 shares, compared to its average volume of 7,140,393. The stock's 50 day moving average is $122.49 and its 200-day moving average is $98.53. The stock has a market cap of $179.52 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 3.36 and a beta of 1.50. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $145.46.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction dated 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 transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 5,839,614 shares of company stock worth $724,163,153. Insiders own 3.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ANET. Wedbush began coverage on Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wolfe Research assumed coverage on shares of Arista Networks in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Finally, Piper Sandler boosted their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $138.79.

About Arista Networks

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.