Kestra Advisory Services LLC Grows Holdings in Arista Networks, Inc. $ANET

Key Points

• Kestra Advisory Services LLC increased its stake in Arista Networks by 6.4%, acquiring an additional 5,241 shares, bringing its total holdings to 87,730 shares worth approximately $6.8 million.
• Analysts have raised their price targets for Arista Networks, with Needham & Company increasing its target to $155, reflecting a positive outlook for the company.
• Arista Networks recently reported earnings of $0.73 EPS for the quarter, exceeding estimates, and has conducted a $1.5 billion share repurchase plan indicating confidence in its stock valuation.

Kestra Advisory Services LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,730 shares of the technology company's stock after purchasing an additional 5,241 shares during the quarter. Kestra Advisory Services LLC's holdings in Arista Networks were worth $6,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ANET. Cresset Asset Management LLC raised its holdings in shares of Arista Networks by 277.5% in the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after purchasing an additional 20,059,303 shares in the last quarter. Nuveen LLC acquired a new position in Arista Networks in the 1st quarter valued at approximately $933,626,000. Nuveen Asset Management LLC raised its stake in shares of 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 worth $1,248,169,000 after purchasing an additional 8,671,235 shares in the last quarter. Northern Trust Corp increased its stake in shares of Arista Networks by 354.3% during the 4th quarter. Northern Trust Corp now owns 9,942,816 shares of the technology company's stock worth $1,098,979,000 after purchasing an additional 7,753,991 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Arista Networks by 278.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,641,326 shares of the technology company's stock valued at $955,126,000 after buying an additional 6,357,753 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANET has been the topic of several recent analyst reports. BNP Paribas downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a report on Wednesday, June 11th. Citigroup increased their target price on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. KGI Securities downgraded Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. Finally, Erste Group Bank raised shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and a consensus price target of $138.07.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 5,847,614 shares of company stock valued at $724,868,593 over the last three months. Corporate insiders own 3.39% of the company's stock.

Arista Networks Trading Down 0.2%

NYSE ANET traded down $0.33 on Friday, hitting $135.90. 4,559,228 shares of the company's stock were exchanged, compared to its average volume of 10,372,051. The stock has a 50-day moving average of $117.30 and a 200-day moving average of $97.40. The stock has a market cap of $170.81 billion, a price-to-earnings ratio of 53.44, a P/E/G ratio of 3.13 and a beta of 1.37. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The business 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%.Arista Networks's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.