Fideuram Asset Management Ireland dac Makes New Investment in Arista Networks, Inc. $ANET

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Arista Networks during the fourth quarter, buying 55,494 shares worth about $6.83 million.
• Analyst sentiment remains broadly positive, with a consensus Buy rating and an average price target of $185.72, while several firms recently raised targets on the stock.
• Arista posted strong quarterly results, including EPS of $0.87 versus $0.81 expected and revenue of $2.71 billion, up 35.1% year over year.

Fideuram Asset Management Ireland dac purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,494 shares of the technology company's stock, valued at approximately $6,827,000.

Several other hedge funds have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. grew its position in Arista Networks by 0.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 16,085 shares of the technology company's stock valued at $2,133,000 after purchasing an additional 70 shares during the period. United Asset Strategies Inc. grew its position in Arista Networks by 1.2% in the 4th quarter. United Asset Strategies Inc. now owns 6,311 shares of the technology company's stock valued at $827,000 after purchasing an additional 72 shares during the period. West Family Investments Inc. grew its position in Arista Networks by 0.9% in the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company's stock valued at $1,219,000 after purchasing an additional 76 shares during the period. Personal CFO Solutions LLC grew its position in Arista Networks by 3.2% in the 4th quarter. Personal CFO Solutions LLC now owns 2,429 shares of the technology company's stock valued at $318,000 after purchasing an additional 76 shares during the period. Finally, Clark Financial Services Group Inc. BD grew its position in Arista Networks by 2.2% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 3,776 shares of the technology company's stock valued at $518,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ANET shares. Truist Financial set a $175.00 price target on shares of Arista Networks in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Arista Networks from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Piper Sandler reissued an "overweight" rating and issued a $181.00 price target (up from $175.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Finally, Zacks Research downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $185.72.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 13,809 shares of Arista Networks stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.04, for a total transaction of $2,140,947.36. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,537,531.68. The trade was a 58.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 971 shares of Arista Networks stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $140.93, for a total value of $136,843.03. Following the sale, the director owned 9,784 shares in the company, valued at $1,378,859.12. The trade was a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,943,142 shares of company stock worth $314,618,583. 2.70% of the stock is owned by company insiders.

Arista Networks Trading Up 0.6%

Shares of NYSE:ANET opened at $155.21 on Friday. The stock's fifty day simple moving average is $147.06 and its two-hundred day simple moving average is $137.46. Arista Networks, Inc. has a 1-year low of $83.86 and a 1-year high of $179.80. The stock has a market cap of $195.44 billion, a PE ratio of 53.15, a price-to-earnings-growth ratio of 2.37 and a beta of 1.67.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the business earned $0.65 EPS. The business's revenue was up 35.1% on a year-over-year basis. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 3.28 earnings per share for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.