Eleva Capital SAS Lowers Stock Position in Arista Networks, Inc. $ANET

Key Points

• Eleva Capital SAS cut its Arista Networks stake by 39.7% in the third quarter, selling 18,652 shares and retaining 28,305 shares valued at approximately $5.76 million. Institutional investors and hedge funds collectively own 82.47% of the company.
• Arista insiders sold substantial amounts of stock, including CEO Jayshree Ullal’s $154.3 million sale and shareholder Andreas Bechtolsheim’s $61.0 million sale. Company insiders sold 3.39 million shares worth roughly $676.9 million during the latest quarter.
• Wall Street remains broadly bullish, with a consensus “Buy” rating and an average price target of $231.70. Arista recently beat earnings and revenue expectations, reporting $1.02 in EPS and $3.04 billion in revenue, up 37.7% year over year.

Eleva Capital SAS decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 39.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,305 shares of the technology company's stock after selling 18,652 shares during the period. Arista Networks comprises 4.8% of Eleva Capital SAS's portfolio, making the stock its 9th biggest holding. Eleva Capital SAS's holdings in Arista Networks were worth $5,763,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Cura Wealth Advisors LLC raised its stake in shares of Arista Networks by 3.1% in the second quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company's stock valued at $297,000 after acquiring an additional 52 shares during the last quarter. Madison Wealth Partners Inc grew its position in shares of Arista Networks by 2.8% during the 2nd quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company's stock worth $370,000 after buying an additional 60 shares during the period. Intrua Financial LLC lifted its stake in shares of Arista Networks by 2.7% in the 1st quarter. Intrua Financial LLC now owns 2,307 shares of the technology company's stock valued at $283,000 after purchasing an additional 61 shares during the period. Shepherd Financial Partners LLC grew its position in shares of Arista Networks by 1.2% during the 2nd quarter. Shepherd Financial Partners LLC now owns 5,403 shares of the technology company's stock worth $918,000 after buying an additional 66 shares during the period. Finally, NBT Bank N A NY grew its holdings in Arista Networks by 37.2% during the first quarter. NBT Bank N A NY now owns 247 shares of the technology company's stock valued at $30,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider owned 181,143,048 shares of the company's stock, valued at $36,826,381,658.40. The trade was a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the sale, the chief executive officer directly owned 16,387,981 shares of the company's stock, valued at approximately $3,297,589,536.82. The trade was a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,387,316 shares of company stock worth $676,926,570. 2.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Arista Networks from $175.00 to $234.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Arista Networks from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Wells Fargo & Company restated an "overweight" rating and set a $255.00 price objective (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Evercore reiterated an "outperform" rating on shares of Arista Networks in a research note on Thursday, September 10th. Finally, Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $231.70.

Arista Networks Trading Up 2.7%

NYSE ANET traded up $5.63 during trading on Tuesday, hitting $212.53. 3,949,029 shares of the company's stock were exchanged, compared to its average volume of 7,934,545. Arista Networks, Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $214.89. The company has a market cap of $268.05 billion, a PE ratio of 67.03, a P/E/G ratio of 2.44 and a beta of 1.60. The stock's 50 day moving average price is $194.51 and its two-hundred day moving average price is $170.06.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company's revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Analysts forecast that Arista Networks, Inc. will post 3.74 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, campus environments and high-performance computing applications. Its products include Ethernet switches, routers, wireless access points and related networking equipment designed to support cloud computing, artificial intelligence, enterprise and service-provider networks.

The company's software portfolio includes Arista EOS, its network operating system, and CloudVision, a platform that helps customers manage, automate and monitor network infrastructure.

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