Norris Perne & French LLP MI Buys Shares of 62,671 Arista Networks, Inc. $ANET

Key Points

• Norris Perne & French LLP MI has acquired 62,671 shares of Arista Networks, Inc. (NYSE:ANET) valued at approximately $6.4 million, indicating growing institutional interest in the technology stock.
• Arista Networks saw significant upgrades from analysts, with target prices raised by firms including Wells Fargo and BNP Paribas Exane, reflecting a consensus rating of "Moderate Buy" and an average target price of $162.00.
• Recent insider activity revealed substantial share sales, including CEO Jayshree Ullal selling over 1.2 million shares valued at approximately $185.3 million, which has raised concerns regarding insider confidence in the stock.

Norris Perne & French LLP MI purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 62,671 shares of the technology company's stock, valued at approximately $6,412,000.

Several other institutional investors have also recently made changes to their positions in ANET. Nuveen LLC acquired a new position in shares of Arista Networks during the 1st quarter worth approximately $933,626,000. AQR Capital Management LLC increased its position in shares of Arista Networks by 153.8% during the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock worth $584,119,000 after purchasing an additional 4,678,372 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Arista Networks by 37.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after purchasing an additional 2,594,184 shares during the last quarter. Amundi increased its position in shares of Arista Networks by 35.3% during the 1st quarter. Amundi now owns 8,582,109 shares of the technology company's stock worth $611,852,000 after purchasing an additional 2,240,045 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Arista Networks by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock worth $1,778,880,000 after purchasing an additional 1,889,198 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ANET shares. Rosenblatt Securities boosted their target price on Arista Networks from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, September 12th. BNP Paribas Exane raised Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 target price on the stock in a report on Thursday. KeyCorp boosted their target price on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Arista Networks in a report on Friday, September 12th. Finally, Wells Fargo & Company boosted their target price on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Arista Networks Price Performance

ANET opened at $142.53 on Monday. The business has a fifty day simple moving average of $134.23 and a 200 day simple moving average of $104.52. The company has a market capitalization of $179.14 billion, a PE ratio of 56.06, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly 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. The business 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 firm's quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,839,867.04. This represents a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the sale, the chief executive officer owned 5,383,207 shares of the company's stock, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,678,904 shares of company stock worth $893,636,121. 3.54% of the stock is currently owned by company 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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