Oak Ridge Investments LLC Has $6.89 Million Stake in Arista Networks, Inc. $ANET

Key Points

• Oak Ridge Investments LLC reduced its stake in Arista Networks, Inc. by 52.5%, now holding 67,380 shares valued at approximately $6.89 million.
• Arista Networks' CEO, Jayshree Ullal, sold over 1.7 million shares recently, bringing insider sales to nearly $894 million over the past 90 days.
• Analysts have raised their price targets for Arista Networks, with the consensus rating currently at "Moderate Buy" and an average target price of $163.94.

Oak Ridge Investments LLC trimmed its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 52.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,380 shares of the technology company's stock after selling 74,378 shares during the period. Oak Ridge Investments LLC's holdings in Arista Networks were worth $6,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of Arista Networks during the 1st quarter worth about $933,626,000. AQR Capital Management LLC lifted its holdings 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 acquiring an additional 4,678,372 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 2,594,184 shares during the period. Amundi lifted its holdings 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 acquiring an additional 2,240,045 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings 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 acquiring an additional 1,889,198 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 6,678,904 shares of company stock valued at $894,021,161 over the last ninety days. Insiders own 3.39% of the company's stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of analyst reports. BNP Paribas raised shares of Arista Networks from a "hold" rating to an "outperform" rating in a report on Thursday, September 25th. Piper Sandler raised their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Morgan Stanley set a $171.00 price objective on shares of Arista Networks and gave the stock an "overweight" rating in a report on Friday. Finally, Needham & Company LLC lifted their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.94.

Arista Networks Stock Down 2.4%

Shares of ANET stock opened at $154.51 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $162.68. The company has a market capitalization of $194.19 billion, a P/E ratio of 60.77, a P/E/G ratio of 3.21 and a beta of 1.47. The firm has a 50-day moving average price of $140.85 and a 200 day moving average price of $108.89.

Arista Networks (NYSE:ANET - Get Free Report) last announced 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. 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 last year, the firm posted $0.53 EPS. The firm's quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.

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