IronOak Wealth LLC. Takes Position in Arista Networks, Inc. $ANET

Key Points

• IronOak Wealth LLC has acquired a new stake in Arista Networks, purchasing 5,207 shares valued at approximately $533,000 during the second quarter.
• Institutional investors own 82.47% of Arista Networks, with Vanguard Group and Goldman Sachs Group notably increasing their holdings significantly in the first quarter.
• Recent analyst upgrades have raised the target price for Arista Networks, with reports setting prices ranging from $143.00 to $179.00 and a consensus price target of $157.88.

IronOak Wealth LLC. bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,207 shares of the technology company's stock, valued at approximately $533,000.

Several other hedge funds have also bought and sold shares of the business. Wesbanco Bank Inc. lifted its holdings in shares of Arista Networks by 2.3% during the second quarter. Wesbanco Bank Inc. now owns 4,508 shares of the technology company's stock valued at $461,000 after purchasing an additional 100 shares during the last quarter. CX Institutional raised its stake in Arista Networks by 1.4% during the second quarter. CX Institutional now owns 7,703 shares of the technology company's stock valued at $788,000 after buying an additional 110 shares during the last quarter. Clearstead Trust LLC boosted its holdings in Arista Networks by 5.1% in the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after acquiring an additional 119 shares in the last quarter. Pier 88 Investment Partners LLC grew its stake in shares of Arista Networks by 1.5% in the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after acquiring an additional 120 shares during the last quarter. Finally, Optimum Investment Advisors raised its position in shares of Arista Networks by 31.3% in the 1st quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ANET shares. Wolfe Research lifted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Wells Fargo & Company boosted their price target on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Barclays increased their price objective on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Morgan Stanley boosted their target price on Arista Networks from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Finally, Needham & Company LLC upped their target price 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. 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 presently has an average rating of "Moderate Buy" and an average target price of $157.88.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 7,582,614 shares of company stock worth $983,487,717. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Down 2.7%

Shares of ANET traded down $4.10 during mid-day trading on Monday, hitting $145.51. 8,663,402 shares of the company traded hands, compared to its average volume of 9,369,324. The business has a 50 day moving average of $131.59 and a 200 day moving average of $102.73. The company has a market capitalization of $182.89 billion, a PE ratio of 57.23, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company's revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company 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.