Arista Networks, Inc. $ANET Shares Sold by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC has significantly decreased its stake in Arista Networks, Inc. by 81.8%, owning 30,916 shares after selling 138,622 shares in the first quarter.
• Despite the reduction in stake by Eventide, other institutional investors have increased their holdings, with HighMark Wealth Management growing its stake by 179.7%.
• Arista Networks reported better-than-expected quarterly earnings, with $2.20 billion in revenue and a 40.90% net margin, surpassing analyst estimates.

Eventide Asset Management LLC trimmed its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 81.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,916 shares of the technology company's stock after selling 138,622 shares during the period. Eventide Asset Management LLC's holdings in Arista Networks were worth $2,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. HighMark Wealth Management LLC grew its position in 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. Dunhill Financial LLC increased its stake in Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. Cloud Capital Management LLC bought a new position in Arista Networks during the 1st quarter worth $30,000. Saudi Central Bank acquired a new stake in Arista Networks in the first quarter valued at about $33,000. Finally, McIlrath & Eck LLC bought a new position in Arista Networks during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 5,839,614 shares of company stock worth $724,163,153. Insiders own 3.54% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Redburn Atlantic began coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price 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. Evercore ISI set a $150.00 price objective on Arista Networks and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group boosted their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, UBS Group raised their price objective on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $138.79.

Arista Networks Stock Down 2.1%

NYSE:ANET traded down $2.94 on Monday, hitting $139.91. The stock had a trading volume of 7,891,802 shares, compared to its average volume of 10,313,489. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $145.46. The company has a fifty day moving average price of $122.49 and a two-hundred day moving average price of $98.49. The stock has a market cap of $175.84 billion, a price-to-earnings ratio of 55.03, a PEG ratio of 3.36 and a beta of 1.49.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company's revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.