Kestra Investment Management LLC Acquires 8,880 Shares of Arista Networks, Inc. $ANET

Key Points

• Kestra Investment Management LLC has increased its holdings in Arista Networks by 58.5%, owning a total of 24,051 shares valued at approximately $1.82 million.
• Arista Networks reported $2.20 billion in revenue for the recent quarter, exceeding analysts' expectations, with earnings per share at $0.73, up from $0.53 a year ago.
• The stock received several price target upgrades, including Citigroup raising it from $123.00 to $136.00, reflecting positive analyst sentiment.

Kestra Investment Management LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 58.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,051 shares of the technology company's stock after purchasing an additional 8,880 shares during the period. Kestra Investment Management LLC's holdings in Arista Networks were worth $1,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Arista Networks by 1.8% in 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 during the period. Alliancebernstein L.P. increased its stake in shares of Arista Networks by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares during the last quarter. Nuveen LLC bought a new position in shares of Arista Networks in the 1st quarter valued at $933,626,000. Nuveen Asset Management LLC increased its stake in shares of Arista Networks by 330.8% in 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 during the last quarter. Finally, Northern Trust Corp increased its stake in shares of 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 purchasing an additional 372,677 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Arista Networks from $106.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Evercore ISI set a $150.00 target price on shares of Arista Networks and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Needham & Company LLC lifted their target price on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Barclays reaffirmed an "overweight" rating and set a $151.00 target price (up from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Fourteen equities research 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 target price of $138.79.

Arista Networks Stock Up 1.3%

Arista Networks stock traded up $1.89 during mid-day trading on Tuesday, hitting $141.90. 6,106,975 shares of the stock were exchanged, compared to its average volume of 7,134,764. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $145.46. The firm's fifty day simple moving average is $124.09 and its two-hundred day simple moving average is $99.08. The stock has a market capitalization of $178.35 billion, a price-to-earnings ratio of 55.81, a PEG ratio of 3.29 and a beta of 1.50.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 30,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $136.51, for a total value of $4,095,300.00. Following the completion of the sale, the senior vice president directly owned 12,976 shares of the company's stock, valued at $1,771,353.76. The trade was a 69.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jayshree Ullal sold 438,764 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $143.84, for a total value of $63,111,813.76. Following the completion of the transaction, the chief executive officer owned 5,563,176 shares in the company, valued at approximately $800,207,235.84. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,278,378 shares of company stock valued at $787,274,967 in the last quarter. 3.54% of the stock is currently owned by company insiders.

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.