Martingale Asset Management L P Trims Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Martingale Asset Management L.P. significantly reduced its holdings in Arista Networks by 76.3%, ending the first quarter with 62,202 shares valued at approximately $4.8 million.
• Multiple institutional investors, including Cresset Asset Management and Nuveen LLC, have increased their stakes in Arista Networks, indicating strong interest from large investors in the company.
• Arista Networks recently reported a strong quarterly performance with a 30.4% year-over-year revenue increase, as well as announcing a $1.5 billion stock repurchase plan to potentially signal undervaluation of their shares.

Martingale Asset Management L P lowered its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 76.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,202 shares of the technology company's stock after selling 200,263 shares during the period. Martingale Asset Management L P's holdings in Arista Networks were worth $4,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cresset Asset Management LLC raised its stake in Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after buying an additional 20,059,303 shares in the last quarter. Nuveen LLC acquired a new stake in Arista Networks during the first quarter valued at approximately $933,626,000. Nuveen Asset Management LLC raised its stake in Arista Networks by 330.8% during the fourth quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after buying an additional 8,671,235 shares in the last quarter. Northern Trust Corp raised its stake in Arista Networks by 354.3% during the fourth quarter. Northern Trust Corp now owns 9,942,816 shares of the technology company's stock valued at $1,098,979,000 after buying an additional 7,753,991 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 30,000 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president directly owned 12,976 shares in the company, valued at $1,771,353.76. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 192,979 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $139.67, for a total value of $26,953,376.93. Following the completion of the sale, the chief executive officer owned 5,623,721 shares in the company, valued at approximately $785,465,112.07. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,823,574 shares of company stock worth $721,676,802 in the last three months. 3.39% of the stock is owned by company insiders.

Arista Networks Trading Up 0.3%

Shares of Arista Networks stock opened at $131.9240 on Friday. The business's 50 day simple moving average is $113.05 and its 200-day simple moving average is $96.79. The stock has a market capitalization of $165.81 billion, a price-to-earnings ratio of 51.89, a PEG ratio of 3.09 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 announced its quarterly earnings results 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 business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business's quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its board has approved a stock 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ANET. The Goldman Sachs Group upped their price objective on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Evercore ISI set a $150.00 price objective on Arista Networks and gave the company an "outperform" rating in a research note on Wednesday, August 6th. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a research note on Wednesday, June 11th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $130.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC increased their price target on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company 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.

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