Arista Networks, Inc. $ANET Shares Purchased by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its stake in Arista Networks by 14.9%, owning 116,000 shares worth approximately $8.99 million after acquiring an additional 15,000 shares in Q1.
• Arista Networks reported earnings of $0.73 per share, exceeding analyst expectations, with quarterly revenue reaching $2.20 billion, a year-over-year increase of 30.4%.
• Major analysts have set price targets for Arista Networks, with UBS raising it to $155 and Morgan Stanley adjusting it to $125, indicating strong investor interest in the company.

Gabelli Funds LLC lifted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,000 shares of the technology company's stock after purchasing an additional 15,000 shares during the period. Gabelli Funds LLC's holdings in Arista Networks were worth $8,988,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ANET. HighMark Wealth Management LLC lifted its holdings in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares during the period. Quarry LP lifted its holdings in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares during the period. Dunhill Financial LLC lifted its holdings in Arista Networks by 415.7% during the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares during the period. Cloud Capital Management LLC purchased a new stake in Arista Networks during the first quarter worth $30,000. Finally, McIlrath & Eck LLC purchased a new stake in Arista Networks during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 24,040 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $132.77, for a total transaction of $3,191,790.80. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at $1,316,680.09. This trade represents a 70.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the sale, the senior vice president owned 12,976 shares of the company's stock, valued at $1,771,353.76. This trade represents a 69.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,847,614 shares of company stock worth $724,868,593. Insiders own 3.39% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET traded up $0.23 during mid-day trading on Friday, hitting $136.46. The stock had a trading volume of 7,957,378 shares, compared to its average volume of 9,258,330. The company has a 50 day moving average of $118.31 and a two-hundred day moving average of $97.45. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $141.99. The firm has a market cap of $171.51 billion, a PE ratio of 53.67, a PEG ratio of 3.21 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results 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. 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 for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the company posted $0.53 EPS. The company's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its board has authorized a stock buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. KGI Securities lowered Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Redburn Atlantic started coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price target on the stock. Piper Sandler upped their price target on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wolfe Research started coverage on Arista Networks in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.07.

About Arista Networks

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.