Mirae Asset Global Investments Co. Ltd. Sells 35,271 Shares of Arista Networks, Inc. $ANET

Key Points

• Mirae Asset Global Investments Co. Ltd. has reduced its stake in Arista Networks by 17.0%, selling 35,271 shares during the 2nd quarter, leaving it with 172,811 shares valued at approximately $17.68 million.
• Arista Networks reported a revenue increase of 30.4% year-over-year in its latest quarterly earnings, with an earnings per share (EPS) of $0.73, surpassing analyst expectations.
• Multiple institutional investors, including ASR Vermogensbeheer N.V. and Robeco Institutional Asset Management B.V., have significantly increased their holdings, driving institutional ownership of the company's stock to 82.47%.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,811 shares of the technology company's stock after selling 35,271 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Arista Networks were worth $17,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Syntax Research Inc. boosted its stake in Arista Networks by 40.8% in the 2nd quarter. Syntax Research Inc. now owns 30,977 shares of the technology company's stock worth $3,169,000 after purchasing an additional 8,977 shares during the period. Cornell Pochily Investment Advisors Inc. bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $220,000. ASR Vermogensbeheer N.V. boosted its position in shares of Arista Networks by 74.9% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 215,266 shares of the technology company's stock valued at $22,024,000 after acquiring an additional 92,206 shares during the last quarter. Pure Financial Advisors LLC boosted its position in shares of Arista Networks by 57.9% during the 2nd quarter. Pure Financial Advisors LLC now owns 4,251 shares of the technology company's stock valued at $435,000 after acquiring an additional 1,559 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Arista Networks by 123.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company's stock valued at $313,894,000 after acquiring an additional 1,692,467 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $145.51 on Friday. The business's 50 day simple moving average is $137.53 and its two-hundred day simple moving average is $106.51. The stock has a market capitalization of $182.88 billion, a P/E ratio of 57.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 31.05% and a net margin of 40.90%.The business's quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 $776,191,640.28. The trade was a 23.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 6,678,904 shares of company stock valued at $894,021,161. 3.39% of the stock is owned by insiders.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Arista Networks from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. BNP Paribas upgraded Arista Networks from a "hold" rating to an "outperform" rating in a research report on Thursday, September 25th. Melius Research lifted their price target on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, September 12th. JPMorgan Chase & Co. lifted their price target on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Finally, Rosenblatt Securities lifted their price target on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Nineteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.