OFI Invest Asset Management Acquires 29,556 Shares of Arista Networks, Inc. $ANET

Key Points

• OFI Invest Asset Management increased its stake in Arista Networks by 6.4%, acquiring 29,556 additional shares, bringing its total holdings to 493,016 shares worth approximately $50.4 million.
• CEO Jayshree Ullal sold over 1.24 million shares of Arista Networks, which represents an 18.82% decrease in her ownership, while insiders collectively sold approximately 6.68 million shares in the last quarter.
• Wall Street analysts have set a consensus price target of $163.94 for Arista Networks, with several brokerages upgrading their ratings and targets for the company.

OFI Invest Asset Management boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 493,016 shares of the technology company's stock after acquiring an additional 29,556 shares during the quarter. OFI Invest Asset Management's holdings in Arista Networks were worth $50,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC raised its position in Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock valued at $34,000 after acquiring an additional 175 shares in the last quarter. HighMark Wealth Management LLC raised its position in Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new position in Arista Networks during the first quarter valued at approximately $30,000. Saudi Central Bank bought a new position in Arista Networks during the first quarter valued at approximately $33,000. Finally, Costello Asset Management INC raised its position in Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 1,247,688 shares of the firm'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 in the company, valued at approximately $799,567,735.71. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the firm'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 owned 12,976 shares in the company, valued at approximately $1,839,867.04. The trade was a 69.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,678,904 shares of company stock worth $894,021,161. Insiders own 3.39% of the company's stock.

Arista Networks Trading Down 2.4%

Shares of Arista Networks stock opened at $154.51 on Friday. The company's fifty day simple moving average is $140.85 and its 200-day simple moving average is $108.89. The company has a market cap of $194.19 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 3.21 and a beta of 1.47. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $162.68.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 40.90% and a return on equity of 31.05%. Arista Networks's quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANET. William Blair reaffirmed an "outperform" rating on shares of Arista Networks in a research report on Friday, September 12th. Wells Fargo & Company increased their price target on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, September 12th. The Goldman Sachs Group increased their price target on Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a report on Friday, September 12th. KeyCorp increased their price target on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley set a $171.00 price target on Arista Networks and gave the company an "overweight" rating in a report on Friday. Nineteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $163.94.

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.