Arista Networks, Inc. $ANET Shares Sold by Fulton Bank N.A.

Key Points

• Fulton Bank N.A. reduced its holdings in Arista Networks, Inc. by 8.9% in Q2, now owning 17,491 shares valued at approximately $1.79 million.
• Several institutional investors increased their positions in Arista Networks, with Commonwealth Equity Services boosting their stake by 19.8% in Q1.
• Wall Street analysts have generally positive outlooks for Arista Networks, with multiple firms raising their price targets and a consensus rating of "Moderate Buy."

Fulton Bank N.A. cut its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 8.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,491 shares of the technology company's stock after selling 1,716 shares during the period. Fulton Bank N.A.'s holdings in Arista Networks were worth $1,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Atticus Wealth Management LLC boosted its stake in Arista Networks by 12.5% during the 2nd quarter. Atticus Wealth Management LLC now owns 3,459 shares of the technology company's stock worth $354,000 after purchasing an additional 384 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Arista Networks during the second quarter worth approximately $234,000. Mn Services Vermogensbeheer B.V. grew its holdings in Arista Networks by 3.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 400,776 shares of the technology company's stock valued at $41,003,000 after purchasing an additional 11,900 shares during the last quarter. High Net Worth Advisory Group LLC purchased a new position in shares of Arista Networks in the 2nd quarter worth about $235,000. Finally, HWG Holdings LP increased its holdings in Arista Networks by 168.4% during the 2nd quarter. HWG Holdings LP now owns 10,142 shares of the technology company's stock worth $1,038,000 after purchasing an additional 6,363 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ANET. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Citigroup increased their price target on Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Wedbush began coverage on shares of Arista Networks in a research report on Wednesday, May 28th. They set an "outperform" rating on the stock. Needham & Company LLC upped their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Finally, Wolfe Research raised their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $157.88.

Arista Networks Trading Up 1.9%

ANET stock traded up $2.85 during mid-day trading on Friday, reaching $149.51. The company's stock had a trading volume of 17,808,627 shares, compared to its average volume of 8,846,882. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $156.32. The company's 50 day moving average is $130.85 and its two-hundred day moving average is $102.17. The stock has a market cap of $187.91 billion, a PE ratio of 58.80, a P/E/G ratio of 3.12 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion during 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%. Arista Networks's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the sale, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 7,582,614 shares of company stock worth $983,487,717. 3.39% of the stock is currently owned by corporate insiders.

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.