Eastern Bank Acquires 101,190 Shares of Arista Networks, Inc. $ANET

Key Points

• Eastern Bank increased its ownership of Arista Networks by 68.0%, acquiring an additional 101,190 shares during the second quarter, bringing its total holdings to 250,002 shares worth approximately $25.58 million.
• Arista Networks reported a 30.4% revenue increase year-over-year for the last quarter, totaling $2.20 billion, and beat analysts' earnings expectations with $0.73 earnings per share.
• Insider sales included the CEO offloading over 1.2 million shares and other executives reducing their stakes significantly, while institutional investors currently own around 82.47% of the company's stock.

Eastern Bank grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 68.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 250,002 shares of the technology company's stock after buying an additional 101,190 shares during the period. Eastern Bank's holdings in Arista Networks were worth $25,578,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC boosted its holdings in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after buying an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Arista Networks in the 1st quarter valued at about $30,000. Saudi Central Bank bought a new stake in shares of Arista Networks in the 1st quarter valued at about $33,000. Finally, Costello Asset Management INC boosted its holdings in shares of Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after buying an additional 154 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

Shares of NYSE ANET opened at $154.51 on Friday. The stock has a market capitalization of $194.19 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 3.30 and a beta of 1.47. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $162.68. The firm's 50 day simple moving average is $140.85 and its 200-day simple moving average is $108.70.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 firm 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 earned $0.53 EPS. The firm's revenue for the quarter was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,247,688 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the sale, the insider owned 12,976 shares in the company, valued at $1,839,867.04. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,678,904 shares of company stock worth $894,021,161 over the last three months. Company insiders own 3.39% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. Melius Research raised their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a report on Friday, September 12th. Evercore ISI increased their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Zacks Research lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Finally, Piper Sandler increased their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Nineteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $163.94.

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.

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