New Century Financial Group LLC Invests $211,000 in Arista Networks, Inc. $ANET

Key Points

• New Century Financial Group LLC has invested $211,000 in Arista Networks by acquiring 2,064 shares of the technology company during the second quarter.
• Major institutional investors, including Vanguard Group and Goldman Sachs, have increased their stakes in Arista Networks, with 82.47% of the stock currently owned by institutional investors.
• Analysts maintain a consensus rating of "Moderate Buy" for the stock, with an average target price of $162.00, following several upward adjustments in target prices by reputable firms.

New Century Financial Group LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,064 shares of the technology company's stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Vanguard Group Inc. lifted its holdings in Arista Networks by 1.8% during the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock worth $7,581,955,000 after acquiring an additional 1,771,982 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares in the last quarter. Nuveen LLC bought a new stake in shares of Arista Networks in the first quarter valued at about $933,626,000. Northern Trust Corp raised its holdings in Arista Networks by 3.7% during the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock worth $799,244,000 after acquiring an additional 372,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 2,594,184 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ANET. Barclays upped their target price on Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Arista Networks in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. UBS Group upped their target price on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Needham & Company LLC upped their target price on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Nineteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total transaction of $1,179,920.00. Following the sale, the director owned 41,784 shares of the company's stock, valued at $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total value of $4,253,700.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,839,867.04. This represents a 69.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,678,904 shares of company stock valued at $894,021,161 over the last 90 days. 3.39% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $145.51 on Friday. The company has a market capitalization of $182.88 billion, a P/E ratio of 57.23, a P/E/G ratio of 3.01 and a beta of 1.47. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $156.32. The business's 50 day simple moving average is $137.53 and its 200 day simple moving average is $106.35.

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 (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 the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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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