Meritage Portfolio Management Sells 11,211 Shares of Arista Networks, Inc. $ANET

Key Points

• Meritage Portfolio Management has reduced its stake in Arista Networks by 6.4%, selling 11,211 shares to hold a total of 163,362 shares, valued at approximately $16.7 million.
• Recent analyst ratings for Arista Networks show significant optimism, with multiple firms raising their price targets, including Melius Research, which set a new target of $185.00, and Citigroup, which raised theirs to $176.00.
• CEO Jayshree Ullal sold over 1.7 million shares of Arista Networks, representing a 23.86% decrease in her ownership, following which insiders have sold a total of approximately 6.7 million shares in the last 90 days.

Meritage Portfolio Management decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,362 shares of the technology company's stock after selling 11,211 shares during the period. Arista Networks accounts for 1.1% of Meritage Portfolio Management's portfolio, making the stock its 17th largest position. Meritage Portfolio Management's holdings in Arista Networks were worth $16,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. REAP Financial Group LLC grew its holdings in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares during the last quarter. HighMark Wealth Management LLC grew its holdings in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after buying an additional 230 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $30,000. Saudi Central Bank purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $33,000. Finally, Costello Asset Management INC grew its holdings in shares of Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after buying an additional 154 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Analysts Set New Price Targets

ANET has been the topic of a number of recent analyst reports. Melius Research increased their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a report on Friday, September 12th. Citigroup increased their price target on shares of Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a report on Friday, September 12th. Wells Fargo & Company increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 12th. BNP Paribas upgraded shares of Arista Networks from a "hold" rating to an "outperform" rating in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.94.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the transaction, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 6,678,904 shares of company stock worth $894,021,161. Company insiders own 3.39% of the company's stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $154.51 on Friday. The company's fifty day simple moving average is $140.85 and its 200-day simple moving average is $108.89. The stock has a market capitalization of $194.19 billion, a PE ratio of 60.77, a P/E/G ratio of 3.21 and a beta of 1.47. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $162.68.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company's revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS 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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