Fortis Capital Advisors LLC Has $722,000 Stake in Arista Networks, Inc. $ANET

Key Points

• Fortis Capital Advisors LLC reduced its stake in Arista Networks, Inc. by 59.3% during Q2, owning 7,057 shares valued at $722,000 after selling 10,263 shares.
• Insider trading activity included Director Charles H. Giancarlo selling 8,000 shares and CEO Jayshree Ullal selling over 1.2 million shares, reflecting decreases in their respective ownership stakes.
• Arista Networks reported Q2 earnings of $0.73 per share, exceeding estimates, along with a revenue of $2.20 billion, representing a 30.4% increase from the previous year.

Fortis Capital Advisors LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 59.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,057 shares of the technology company's stock after selling 10,263 shares during the period. Fortis Capital Advisors LLC's holdings in Arista Networks were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 1900 Wealth Management LLC increased its holdings in shares of Arista Networks by 2.3% in the second quarter. 1900 Wealth Management LLC now owns 4,338 shares of the technology company's stock valued at $444,000 after purchasing an additional 98 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Arista Networks by 2.3% in the second quarter. Wesbanco Bank Inc. now owns 4,508 shares of the technology company's stock valued at $461,000 after purchasing an additional 100 shares during the last quarter. XML Financial LLC increased its holdings in shares of Arista Networks by 0.6% in the second quarter. XML Financial LLC now owns 16,185 shares of the technology company's stock valued at $1,656,000 after purchasing an additional 100 shares during the last quarter. CX Institutional increased its holdings in shares of Arista Networks by 1.4% in the second quarter. CX Institutional now owns 7,703 shares of the technology company's stock valued at $788,000 after purchasing an additional 110 shares during the last quarter. Finally, McAdam LLC increased its holdings in shares of Arista Networks by 2.6% in the second quarter. McAdam LLC now owns 4,594 shares of the technology company's stock valued at $470,000 after purchasing an additional 116 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 completion of the sale, the director owned 41,784 shares of the company's stock, valued at $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 1,247,688 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares of the company's stock, valued at $799,567,735.71. This represents a 18.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,678,904 shares of company stock valued at $894,021,161 over the last quarter. 3.39% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $145.51 on Friday. The firm has a 50-day moving average of $137.53 and a 200-day moving average of $106.35. The stock has a market cap of $182.88 billion, a PE ratio of 57.23, a PEG ratio of 3.01 and a beta of 1.47. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $156.32.

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, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. Arista Networks's revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Arista Networks in a report on Saturday, September 27th. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Evercore ISI upped their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, September 12th. BNP Paribas Exane upgraded shares of Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price objective on the stock in a report on Thursday, September 25th. Finally, KeyCorp boosted their target price on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Nineteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Arista Networks Company 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.