George Kaiser Family Foundation Buys Shares of 3,114 Arista Networks, Inc. $ANET

Key Points

• The George Kaiser Family Foundation has acquired a new stake in Arista Networks, Inc. during the 1st quarter, purchasing 3,114 shares valued at approximately $241,000.
• Insider trading reports show that CEO Jayshree Ullal sold nearly 193,000 shares for about $27 million, resulting in a 3.32% decrease in her ownership of the stock.
• Arista Networks reported a quarterly revenue of $2.20 billion, surpassing expectations and reflecting a 30.4% annual increase, alongside earnings of $0.73 per share.

George Kaiser Family Foundation acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,114 shares of the technology company's stock, valued at approximately $241,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP boosted its position in shares of 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 boosted its position in shares of 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. McIlrath & Eck LLC bought a new stake in Arista Networks during the fourth quarter worth about $35,000. HighMark Wealth Management LLC raised 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 acquiring an additional 230 shares in the last quarter. Finally, West Paces Advisors Inc. raised its holdings in Arista Networks by 214.5% during the fourth quarter. West Paces Advisors Inc. now owns 368 shares of the technology company's stock worth $41,000 after acquiring an additional 251 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wolfe Research assumed coverage on Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Citigroup upped their target price on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. BNP Paribas lowered Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Barclays reiterated an "overweight" rating and set a $151.00 target price (up previously from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Finally, Rosenblatt Securities upped their target price on Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average target price of $138.07.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director owned 57,784 shares of the company's stock, valued at $6,761,305.84. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 192,979 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $139.67, for a total value of $26,953,376.93. Following the sale, the chief executive officer directly owned 5,623,721 shares in the company, valued at $785,465,112.07. This represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,767,574 shares of company stock valued at $714,032,242 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $1.69 during trading hours on Wednesday, reaching $131.09. 7,106,464 shares of the stock were exchanged, compared to its average volume of 10,531,655. The firm has a market capitalization of $164.76 billion, a price-to-earnings ratio of 51.51, a P/E/G ratio of 3.24 and a beta of 1.37. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $141.99. The stock's fifty day simple moving average is $111.58 and its 200 day simple moving average is $96.41.

Arista Networks (NYSE:ANET - Get Free Report) last announced its 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 analyst estimates of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.