McElhenny Sheffield Capital Management LLC Purchases Shares of 3,673 Arista Networks, Inc. $ANET

Key Points

• McElhenny Sheffield Capital Management LLC has acquired 3,673 shares of Arista Networks, Inc. for approximately $376,000.
• Institutional investors now hold over 82% of Arista's stocks, with multiple firms increasing their positions significantly in the last quarter.
• Analyst ratings have become increasingly positive, with many upgrades and a consensus target price of $162.00 for the stock.

McElhenny Sheffield Capital Management LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,673 shares of the technology company's stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in shares of Arista Networks during the first quarter worth approximately $629,000. Commonwealth Equity Services LLC lifted its position in shares of Arista Networks by 19.8% during the first quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company's stock worth $47,519,000 after purchasing an additional 101,162 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Arista Networks during the first quarter worth approximately $15,227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arista Networks by 94.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company's stock worth $50,363,000 after purchasing an additional 316,309 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of Arista Networks by 2,317.5% during the first quarter. Dunhill Financial LLC now owns 6,358 shares of the technology company's stock worth $493,000 after purchasing an additional 6,095 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ANET shares. Piper Sandler upped their target price on shares of Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. BNP Paribas raised shares of Arista Networks from a "hold" rating to an "outperform" rating in a research note on Thursday, September 25th. KeyCorp boosted their price target on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Erste Group Bank raised shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC boosted their price target on shares of Arista Networks from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Nineteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company's stock, valued at $1,839,867.04. The trade was a 69.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,678,904 shares of company stock valued at $894,021,161. Corporate insiders own 3.39% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $158.57 on Friday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $159.80. The company has a market capitalization of $199.30 billion, a PE ratio of 62.37, a PEG ratio of 3.28 and a beta of 1.47. The company has a 50 day moving average price of $140.11 and a two-hundred day moving average price of $108.23.

Arista Networks (NYSE:ANET - Get Free Report) last issued its 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 firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. 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. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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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