Fortis Capital Advisors LLC Has $1.34 Million Position in Arista Networks, Inc. $ANET

Key Points

• Fortis Capital Advisors LLC significantly increased its stake in Arista Networks by over 300%, holding a total of 17,320 shares valued at approximately $1.34 million as of the latest SEC filing.
• Despite recent insider selling, including from CEO Jayshree Ullal, analysts remain optimistic with most rating the stock as a "Buy" and adjusting target prices upwards, the consensus target price being $138.79.
• In its latest earnings report, Arista Networks exceeded expectations with $0.73 EPS on revenues of $2.20 billion, marking a 30.4% year-over-year revenue growth.

Fortis Capital Advisors LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 300.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,320 shares of the technology company's stock after acquiring an additional 12,991 shares during the quarter. Fortis Capital Advisors LLC's holdings in Arista Networks were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Arista Networks by 1.8% during the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock worth $7,581,955,000 after purchasing an additional 1,771,982 shares during the period. Alliancebernstein L.P. boosted its holdings in Arista Networks by 9.0% during the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock worth $1,778,880,000 after buying an additional 1,889,198 shares during the last quarter. Nuveen LLC bought a new position in Arista Networks during the first quarter worth about $933,626,000. Nuveen Asset Management LLC grew its position in shares of Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock worth $1,248,169,000 after buying an additional 8,671,235 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Arista Networks by 3.7% in the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after acquiring an additional 372,677 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 1.3%

ANET opened at $141.90 on Wednesday. The stock has a market capitalization of $178.35 billion, a P/E ratio of 55.81, a P/E/G ratio of 3.29 and a beta of 1.50. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $145.46. The firm's fifty day simple moving average is $124.09 and its 200 day simple moving average is $99.08.

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

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $117.01, for a total value of $936,080.00. Following the sale, the director owned 57,784 shares in the company, valued at approximately $6,761,305.84. The trade was a 12.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 438,764 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $143.84, for a total transaction of $63,111,813.76. Following the transaction, the chief executive officer directly owned 5,563,176 shares of the company's stock, valued at $800,207,235.84. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,278,378 shares of company stock valued at $787,274,967. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. KeyCorp boosted their price target on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Citigroup upped their price objective on shares of Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their target price on Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $135.00 target price (up from $125.00) on shares of Arista Networks in a research note on Wednesday, September 3rd. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.79.

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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