Northern Trust Corp Acquires 372,677 Shares of Arista Networks, Inc. $ANET

Key Points

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Northern Trust Corp raised its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,315,493 shares of the technology company's stock after buying an additional 372,677 shares during the quarter. Northern Trust Corp owned 0.82% of Arista Networks worth $799,244,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HighMark Wealth Management LLC increased its stake in Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after buying an additional 230 shares during the period. Quarry LP increased its stake in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 206 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Arista Networks during the 1st quarter worth $30,000. Finally, McIlrath & Eck LLC acquired a new position in shares of Arista Networks during the 4th quarter worth $35,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of NYSE ANET traded up $0.5110 during trading hours on Friday, hitting $132.5410. 3,348,835 shares of the stock were exchanged, compared to its average volume of 10,472,624. The company's 50 day moving average is $113.05 and its 200 day moving average is $96.79. The firm has a market capitalization of $166.59 billion, a P/E ratio of 52.15, a P/E/G ratio of 3.09 and a beta of 1.37. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99.

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 for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.53 EPS. The business's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently commented on ANET. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Needham & Company LLC increased their price target on shares of Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research note on Wednesday, June 11th. Finally, KeyCorp increased their price target on shares of Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of "Moderate Buy" and an average target price of $138.07.

Insider Activity

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated Wednesday, August 6th. The shares were 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 $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 5,823,574 shares of company stock valued at $721,676,802. Corporate insiders own 3.39% of the company's stock.

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.