Granite Group Advisors LLC Takes Position in Arista Networks, Inc. $ANET

Key Points

• Granite Group Advisors LLC acquired a new position in Arista Networks, purchasing 2,400 shares worth approximately $246,000 in the second quarter, amidst a trend of increased institutional investment in the company.
• Analysts have notably raised their price targets for Arista Networks, with JPMorgan Chase increasing its target from $150.00 to $175.00, signaling a bullish outlook on the stock.
• CEO Jayshree Ullal sold over 1.2 million shares on September 10th, reflecting an 18.82% decrease in her ownership, while insider sales overall totaled nearly $894 million in the last quarter.

Granite Group Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,400 shares of the technology company's stock, valued at approximately $246,000.

Several other hedge funds have also recently bought and sold shares of ANET. Sowell Financial Services LLC bought a new stake in Arista Networks in the 1st quarter valued at $629,000. Commonwealth Equity Services LLC raised its stake in shares of Arista Networks by 19.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company's stock valued at $47,519,000 after purchasing an additional 101,162 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Arista Networks in the first quarter valued at about $15,227,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arista Networks by 94.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company's stock worth $50,363,000 after buying an additional 316,309 shares during the period. Finally, Dunhill Financial LLC boosted its position in shares of Arista Networks by 2,317.5% during the first quarter. Dunhill Financial LLC now owns 6,358 shares of the technology company's stock worth $493,000 after buying an additional 6,095 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BNP Paribas Exane raised Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price target for the company in a research report on Thursday, September 25th. Piper Sandler boosted their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. 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 report on Friday, September 12th. Melius Research lifted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Zacks Research cut Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Nineteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus target price of $163.94.

Arista Networks Stock Performance

Shares of ANET stock opened at $138.76 on Wednesday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $162.68. The stock has a market cap of $174.40 billion, a price-to-earnings ratio of 54.58, a PEG ratio of 3.07 and a beta of 1.47. The firm's 50-day moving average is $141.81 and its 200-day moving average is $109.79.

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

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total transaction of $1,179,920.00. Following the sale, the director owned 41,784 shares of the company's stock, valued at approximately $6,162,722.16. This represents a 16.07% 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 in the last quarter. 3.54% of the stock is currently owned by 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.

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