Fifth Third Wealth Advisors LLC Acquires 1,928 Shares of Arista Networks, Inc. $ANET

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in Arista Networks, Inc. by 4.2%, acquiring an additional 1,928 shares during the second quarter, bringing their total to 48,329 shares valued at approximately $4.9 million.
• Several institutional investors notably boosted their stakes in Arista, with Eastern Bank increasing its ownership by 68% and now holding 250,002 shares valued at around $25.6 million.
• Arista Networks' stock has seen analyst ratings predominantly leaning towards "Buy," with an average price target lifted to $163.94, reflecting a positive outlook despite some downgrades.

Fifth Third Wealth Advisors LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,329 shares of the technology company's stock after purchasing an additional 1,928 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Arista Networks were worth $4,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eastern Bank increased its stake in Arista Networks by 68.0% during the 2nd quarter. Eastern Bank now owns 250,002 shares of the technology company's stock valued at $25,578,000 after purchasing an additional 101,190 shares in the last quarter. Aberdeen Group plc increased its stake in Arista Networks by 4.7% during the 2nd quarter. Aberdeen Group plc now owns 990,892 shares of the technology company's stock valued at $101,378,000 after purchasing an additional 44,117 shares in the last quarter. PDS Planning Inc increased its stake in Arista Networks by 8.2% during the 2nd quarter. PDS Planning Inc now owns 7,603 shares of the technology company's stock valued at $778,000 after purchasing an additional 573 shares in the last quarter. Gunderson Capital Management Inc. bought a new stake in Arista Networks during the 2nd quarter valued at $3,280,000. Finally, Costello Asset Management INC increased its stake in Arista Networks by 62.3% during the 2nd quarter. Costello Asset Management INC now owns 737 shares of the technology company's stock valued at $75,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ANET shares. Needham & Company LLC lifted their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. UBS Group lifted their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Erste Group Bank raised shares of Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Zacks Research downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $163.94.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the sale, the insider directly owned 12,976 shares of the company's stock, valued at $1,839,867.04. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total transaction of $1,179,920.00. Following the sale, the director directly owned 41,784 shares in the company, valued at approximately $6,162,722.16. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,678,904 shares of company stock valued at $894,021,161 over the last three months. 3.39% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $154.51 on Friday. The company's 50-day moving average is $140.85 and its 200 day moving average is $108.70. The company has a market capitalization of $194.19 billion, a P/E ratio of 60.77, a price-to-earnings-growth ratio of 3.30 and a beta of 1.47. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $162.68.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm's quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks Profile

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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