KLP Kapitalforvaltning AS Grows Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• KLP Kapitalforvaltning AS increased its position in Arista Networks by 3.3%, owning a total of 519,900 shares valued at approximately $53.2 million as of the latest filing.
• Arista Networks has a current market cap of $188.04 billion and reported an earnings per share (EPS) of $0.73 for the last quarter, exceeding analyst expectations.
• Several analysts have raised their price targets for Arista Networks, with UBS Group set at $155 and Citigroup at $176, reflecting a strong outlook on the stock.

KLP Kapitalforvaltning AS raised its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,900 shares of the technology company's stock after buying an additional 16,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Arista Networks were worth $53,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighMark Wealth Management LLC boosted its position in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Arista Networks during the first quarter worth $30,000. Saudi Central Bank purchased a new position in shares of Arista Networks during the first quarter worth $33,000. Costello Asset Management INC boosted its position in shares of Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock worth $35,000 after buying an additional 154 shares during the period. Finally, Tradewinds Capital Management LLC boosted its position in shares of Arista Networks by 45.8% during the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after buying an additional 143 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Arista Networks stock opened at $149.61 on Tuesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $156.32. The stock has a market cap of $188.04 billion, a PE ratio of 58.84, a P/E/G ratio of 3.03 and a beta of 1.47. The stock's fifty day moving average is $138.18 and its two-hundred day moving average is $107.14.

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, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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 on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total value of $4,253,700.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,839,867.04. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total value of $1,179,920.00. Following the completion of the sale, the director owned 41,784 shares in the company, valued at approximately $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,678,904 shares of company stock worth $894,021,161 over the last ninety days. Corporate insiders own 3.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ANET shares. UBS Group raised their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Citigroup increased their price objective on Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Wolfe Research increased their price objective on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 price objective on the stock in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $162.00.

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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