Glenview Trust co Takes Position in Arista Networks, Inc. $ANET

Key Points

• Glenview Trust Co has acquired a new position in Arista Networks, Inc., investing approximately $265,000 for 3,418 shares during the 1st quarter.
• Institutional investors own approximately 82.47% of Arista Networks' stock, with notable increases in holdings by firms like UBS AM and AQR Capital Management.
• Arista Networks reported a 30.4% year-over-year revenue increase, totaling $2.20 billion for the quarter, and exceeded EPS estimates by $0.08.

Glenview Trust co acquired a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,418 shares of the technology company's stock, valued at approximately $265,000.

Several other large investors also recently made changes to their positions in the business. McIlrath & Eck LLC acquired a new position in Arista Networks during the 4th quarter worth about $35,000. HighMark Wealth Management LLC lifted its position in shares of 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 purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Arista Networks during the first quarter valued at approximately $30,000. Ameriflex Group Inc. bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $46,000. Finally, Saudi Central Bank acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $33,000. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ANET. Piper Sandler upped their price objective on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wolfe Research upped their price target on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. BNP Paribas cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a report on Wednesday, June 11th. Finally, Wells Fargo & Company raised their target price on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.56.

Arista Networks Stock Performance

ANET traded down $13.69 during midday trading on Friday, reaching $139.35. 17,882,765 shares of the company were exchanged, compared to its average volume of 7,918,403. The stock has a market capitalization of $175.14 billion, a P/E ratio of 54.81, a PEG ratio of 3.60 and a beta of 1.50. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32. The stock's 50-day simple moving average is $126.85 and its 200 day simple moving average is $100.18.

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

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 30,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $136.51, for a total value of $4,095,300.00. Following the completion of the sale, the senior vice president owned 12,976 shares in the company, valued at $1,771,353.76. This represents a 69.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total value of $936,080.00. Following the transaction, the director owned 57,784 shares in the company, valued at approximately $6,761,305.84. This represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,582,614 shares of company stock worth $980,712,097. Company insiders own 3.39% of the company's stock.

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.