Mitsubishi UFJ Asset Management UK Ltd. Trims Position in Arista Networks, Inc. $ANET

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in Arista Networks by 37.5%, selling 6,000 shares in the second quarter and now owning 10,000 shares worth approximately $1,023,000.
• Insider transactions saw CEO Jayshree Ullal sell over 1.7 million shares, resulting in a 23.86% decrease in her position, while insiders collectively sold 6.67 million shares valued at nearly $893 million in the past 90 days.
• Despite reductions in some positions, several institutional investors increased their stakes in Arista Networks, with institutional ownership at 82.47%.

Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 37.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the technology company's stock after selling 6,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Arista Networks were worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC lifted its position in Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the period. Cloud Capital Management LLC purchased a new position in Arista Networks in the 1st quarter worth about $30,000. Saudi Central Bank bought a new position in Arista Networks during the first quarter valued at approximately $33,000. Costello Asset Management INC lifted its holdings in shares of Arista Networks by 51.3% during the 1st 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 period. Finally, Tradewinds Capital Management LLC boosted its position in Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the sale, the chief executive officer owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 6,670,904 shares of company stock valued at $892,841,241 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ANET. BNP Paribas raised shares of Arista Networks from a "hold" rating to an "outperform" rating in a research report on Thursday, September 25th. KeyCorp boosted their target price on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company increased their price target on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Needham & Company LLC lifted their price objective 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. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Arista Networks Stock Performance

NYSE:ANET opened at $145.73 on Wednesday. The firm has a 50-day simple moving average of $135.58 and a 200-day simple moving average of $105.22. The firm has a market cap of $183.16 billion, a P/E ratio of 57.32, a P/E/G ratio of 2.99 and a beta of 1.50. 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 earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $0.53 EPS. The business's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

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.