Norinchukin Bank The Buys 7,251 Shares of Arista Networks, Inc. $ANET

Key Points

• Norinchukin Bank raised its stake in Arista Networks, Inc. by 15.4%, acquiring an additional 7,251 shares during the 1st quarter, bringing its total ownership to 54,186 shares valued at approximately $4.2 million.
• Several institutional investors significantly increased their holdings in Arista Networks, with Cresset Asset Management boosting its position by 277.5% to over 27 million shares worth around $3 billion.
• Arista Networks reported earnings of $0.73 per share for the last quarter, exceeding analysts' expectations, and also declared a $1.5 billion stock repurchase plan to buy back outstanding shares, indicating management's belief that the stock is undervalued.

Norinchukin Bank The raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 54,186 shares of the technology company's stock after acquiring an additional 7,251 shares during the period. Norinchukin Bank The's holdings in Arista Networks were worth $4,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Cresset Asset Management LLC increased its position in shares of Arista Networks by 277.5% during the 4th quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after purchasing an additional 20,059,303 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Arista Networks during the 1st quarter valued at about $933,626,000. Nuveen Asset Management LLC increased its position in shares of Arista Networks by 330.8% during the 4th quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after purchasing an additional 8,671,235 shares during the last quarter. Northern Trust Corp increased its holdings in Arista Networks by 354.3% in the 4th quarter. Northern Trust Corp now owns 9,942,816 shares of the technology company's stock worth $1,098,979,000 after acquiring an additional 7,753,991 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Arista Networks by 278.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,641,326 shares of the technology company's stock worth $955,126,000 after acquiring an additional 6,357,753 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ANET shares. Rosenblatt Securities increased their target price on shares of Arista Networks from $106.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a report on Wednesday, May 7th. Redburn Atlantic started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price for the company. Needham & Company LLC increased their target price on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Piper Sandler increased their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $138.07.

Arista Networks Price Performance

Shares of ANET opened at $131.9240 on Friday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $141.99. The company has a 50 day simple moving average of $113.05 and a two-hundred day simple moving average of $96.79. The firm has a market cap of $165.81 billion, a P/E ratio of 51.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $2.20 billion during 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 company's quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Monday, August 18th. The stock was sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the sale, the senior vice president directly owned 12,976 shares in the company, valued at approximately $1,771,353.76. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Friday, August 1st. The stock was sold at an average price of $117.01, for a total value of $936,080.00. Following the sale, the director owned 57,784 shares of the company's stock, valued at approximately $6,761,305.84. This trade represents a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,823,574 shares of company stock worth $721,676,802 over the last three months. 3.39% of the stock is owned by insiders.

Arista Networks Company 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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