Arista Networks, Inc. $ANET Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP holds an $83.65 million stake in Arista Networks, having increased its holdings by 2.4% recently.
• Arista Networks reported $2.20 billion in revenue for the last quarter, exceeding analysts' expectations, with a quarterly earnings per share of $0.73.
• The company has authorized a $1.50 billion stock buyback plan, indicating the board's belief that its stock is undervalued.

Korea Investment CORP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,079,674 shares of the technology company's stock after purchasing an additional 25,214 shares during the period. Korea Investment CORP owned approximately 0.09% of Arista Networks worth $83,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighMark Wealth Management LLC grew its stake in shares of Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the period. Quarry LP increased its stake in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 206 shares during the last quarter. Dunhill Financial LLC raised its holdings in Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after buying an additional 212 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Arista Networks in the 1st quarter worth about $30,000. Finally, McIlrath & Eck LLC bought a new stake in Arista Networks in the fourth quarter worth about $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

ANET traded down $1.3840 on Wednesday, reaching $131.3960. 9,445,764 shares of the company's stock were exchanged, compared to its average volume of 10,548,172. The stock's fifty day moving average price is $111.58 and its 200-day moving average price is $96.41. The stock has a market cap of $165.15 billion, a PE ratio of 51.68, a P/E/G ratio of 3.24 and a beta of 1.37. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping 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 analyst estimates of $2.11 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm's revenue for the quarter was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 864 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $114.68, for a total transaction of $99,083.52. Following the transaction, the director owned 7,460 shares of the company's stock, valued at approximately $855,512.80. This represents a 10.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 192,979 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $139.67, for a total transaction of $26,953,376.93. Following the sale, the chief executive officer owned 5,623,721 shares in the company, valued at approximately $785,465,112.07. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,767,574 shares of company stock worth $714,032,242 over the last three months. Insiders own 3.54% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the subject of several research reports. BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Barclays reiterated an "overweight" rating and issued a $151.00 target price (up from $119.00) on shares of Arista Networks in a report on Thursday, August 7th. Wedbush started coverage on Arista Networks in a report on Wednesday, May 28th. They set an "outperform" rating for the company. UBS 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 note on Wednesday, August 6th. Finally, Piper Sandler increased their price objective on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $138.07.

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.