Lansforsakringar Fondforvaltning AB publ Raises Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in Arista Networks by 4.8%, holding approximately $66.52 million worth of shares as of the latest SEC filing.
• Arista Networks reported $0.73 earnings per share for the last quarter, surpassing expectations, and recorded a 30.4% year-over-year increase in revenue.
• The company's share buyback program allows the repurchase of up to $1.50 billion in shares, indicating a belief by the Board that the company's stock is undervalued.

Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 858,562 shares of the technology company's stock after buying an additional 39,536 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.07% of Arista Networks worth $66,521,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Clearstead Trust LLC boosted its position in shares of Arista Networks by 5.1% during the 1st quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock valued at $190,000 after purchasing an additional 119 shares in the last quarter. Pier 88 Investment Partners LLC raised its stake in Arista Networks by 1.5% during the 1st quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after buying an additional 120 shares during the period. Optimum Investment Advisors raised its stake in Arista Networks by 31.3% during the 1st quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after buying an additional 125 shares during the period. PFG Advisors raised its stake in Arista Networks by 2.7% during the 1st quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after buying an additional 131 shares during the period. Finally, Harbour Investments Inc. raised its stake in Arista Networks by 9.4% during the 1st quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock worth $126,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Up 0.2%

NYSE:ANET traded up $0.23 during trading hours on Friday, hitting $136.46. 7,957,378 shares of the company traded hands, compared to its average volume of 9,258,330. The firm's 50-day simple moving average is $118.31 and its 200-day simple moving average is $97.45. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99. The company has a market cap of $171.51 billion, a PE ratio of 53.67, a PEG ratio of 3.21 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the business earned $0.53 EPS. The business's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ANET. Barclays reaffirmed an "overweight" rating and set a $151.00 price target (up from $119.00) on shares of Arista Networks in a research note on Thursday, August 7th. Piper Sandler upped their price target on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group upped their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Needham & Company LLC lifted their price objective on shares of Arista Networks from $130.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Citigroup lifted their price objective on shares of Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $138.07.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the 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 directly owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 5,847,614 shares of company stock worth $724,868,593. 3.39% 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.