Jump Financial LLC Has $33.33 Million Stake in Arista Networks, Inc. $ANET

Key Points

• Jump Financial LLC increased its stake in Arista Networks by 212.6%, owning 430,115 shares valued at $33.3 million.
• Several hedge funds and institutional investors significantly boosted their positions in Arista Networks, indicating growing confidence in the company.
• Arista Networks reported a 30.4% year-over-year revenue increase and surpassed earnings expectations with an EPS of $0.73 for the most recent quarter.

Jump Financial LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 212.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,115 shares of the technology company's stock after purchasing an additional 292,534 shares during the period. Arista Networks accounts for approximately 0.5% of Jump Financial LLC's holdings, making the stock its 21st largest holding. Jump Financial LLC's holdings in Arista Networks were worth $33,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Arista Networks by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after purchasing an additional 1,771,982 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after purchasing an additional 20,059,303 shares in the last quarter. Nuveen LLC acquired a new stake in Arista Networks during the 1st quarter valued at $933,626,000. Nuveen Asset Management LLC increased its holdings in Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after purchasing an additional 8,671,235 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Arista Networks by 3.7% in the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after buying an additional 372,677 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the sale, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 5,823,574 shares of company stock worth $721,676,802 over the last 90 days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ANET. UBS Group increased their price objective on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. KeyCorp increased their price objective on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Rosenblatt Securities increased their price objective on Arista Networks from $106.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. KGI Securities lowered Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI set a $150.00 price objective on Arista Networks and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.07.

Arista Networks Stock Performance

ANET stock traded up $1.1360 during midday trading on Friday, hitting $133.1660. 7,358,652 shares of the company's stock were exchanged, compared to its average volume of 10,159,499. The stock's fifty day moving average price is $113.86 and its 200-day moving average price is $96.67. The company has a market cap of $167.37 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 3.13 and a beta of 1.37. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.53 EPS. The company's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are 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.