Maryland State Retirement & Pension System Has $5.13 Million Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• The Maryland State Retirement & Pension System increased its stake in Arista Networks, owning 50,141 shares valued at $5.13 million after a 4.1% increase in the second quarter.
• Insider trading revealed that CEO Jayshree Ullal sold 1,785,165 shares for approximately $243 million, reducing her stake by nearly 24%.
• Analysts have raised their price targets for Arista Networks, with Wolfe Research setting it at $185 and consensus views indicating a "Moderate Buy" rating and target price of $162.

Maryland State Retirement & Pension System increased its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,141 shares of the technology company's stock after purchasing an additional 1,964 shares during the period. Maryland State Retirement & Pension System's holdings in Arista Networks were worth $5,130,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Nuveen LLC acquired a new position in Arista Networks in the first quarter worth about $933,626,000. AQR Capital Management LLC grew its stake in Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock worth $584,119,000 after buying an additional 4,678,372 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Arista Networks by 37.3% during the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after buying an additional 2,594,184 shares during the last quarter. Amundi grew its stake in Arista Networks by 35.3% during the first quarter. Amundi now owns 8,582,109 shares of the technology company's stock worth $611,852,000 after buying an additional 2,240,045 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Arista Networks by 9.0% during the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock worth $1,778,880,000 after buying an additional 1,889,198 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,678,904 shares of company stock valued at $894,021,161 over the last quarter. 3.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Wolfe Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. The Goldman Sachs Group upped their price objective on shares of Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Evercore ISI upped their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Finally, Rosenblatt Securities increased their price target on shares of Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

Arista Networks Price Performance

ANET opened at $158.57 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $159.80. The company's 50 day simple moving average is $140.11 and its 200-day simple moving average is $108.23. The stock has a market capitalization of $199.30 billion, a P/E ratio of 62.37, a price-to-earnings-growth ratio of 3.28 and a beta of 1.47.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. 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 earnings per share. Arista Networks's revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.

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