Janney Montgomery Scott LLC Raises Holdings in Arista Networks, Inc. $ANET

Key Points

• Janney Montgomery Scott LLC increased its holdings in Arista Networks by 137.0%, owning a total of 310,166 shares worth approximately $31.7 million at the end of the second quarter.
• Investment analysts have shown strong confidence in Arista Networks, with numerous firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of $162.00.
• Insider trading activity has been notable, with key executives selling substantial shares recently, including Kenneth Duda selling 30,000 shares for over $4.25 million.

Janney Montgomery Scott LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 137.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 310,166 shares of the technology company's stock after acquiring an additional 179,286 shares during the period. Janney Montgomery Scott LLC's holdings in Arista Networks were worth $31,733,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new position in Arista Networks during the fourth quarter worth $202,000. Bison Wealth LLC acquired a new position in Arista Networks during the fourth quarter worth $251,000. NBC Securities Inc. acquired a new position in Arista Networks during the first quarter worth $84,000. Finally, Merit Financial Group LLC lifted its stake in Arista Networks by 113.0% during the first quarter. Merit Financial Group LLC now owns 51,629 shares of the technology company's stock worth $4,000,000 after purchasing an additional 27,387 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ANET shares. 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 note on Wednesday, August 6th. The Goldman Sachs Group upped their price target on Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped 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. Rosenblatt Securities increased their price objective on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Finally, William Blair reiterated an "outperform" rating on shares of Arista Networks in a research note on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the transaction, the insider owned 12,976 shares of the company's stock, valued at approximately $1,839,867.04. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of the firm's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,670,904 shares of company stock worth $892,841,241 over the last ninety days. Corporate insiders own 3.39% of the company's stock.

Arista Networks Trading Up 2.5%

Shares of NYSE ANET opened at $149.32 on Thursday. The stock has a market cap of $187.67 billion, a P/E ratio of 58.73, a PEG ratio of 3.04 and a beta of 1.47. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $156.32. The business's fifty day simple moving average is $136.30 and its 200-day simple moving average is $105.52.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 for the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the firm earned $0.53 earnings per share. Arista Networks's quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.

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