OLD National Bancorp IN Buys 94,729 Shares of Arista Networks, Inc. $ANET

Key Points

• OLD National Bancorp IN significantly increased its investment in Arista Networks by purchasing 94,729 shares, bringing its total holdings to 99,829 shares valued at approximately $10.21 million.
• Arista Networks recently reported earnings of $0.73 per share for the quarter, exceeding analyst expectations, with a revenue increase of 30.4% year-over-year to $2.20 billion.
• Wall Street analysts are optimistic about Arista Networks, with a consensus rating of "Moderate Buy" and an average target price of $162.00, following several upgrades from major investment firms.

OLD National Bancorp IN boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1,857.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,829 shares of the technology company's stock after purchasing an additional 94,729 shares during the quarter. OLD National Bancorp IN's holdings in Arista Networks were worth $10,214,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. HighMark Wealth Management LLC boosted its position in shares of Arista Networks by 179.7% in 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 during the period. Cloud Capital Management LLC bought a new stake in shares of Arista Networks in the first quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in shares of Arista Networks in the first quarter valued at approximately $33,000. Tradewinds Capital Management LLC boosted its position in shares of Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after acquiring an additional 143 shares during the period. Finally, Costello Asset Management INC boosted its position in shares of Arista Networks by 51.3% in 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 during the period. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $145.51 on Friday. The stock has a market cap of $182.88 billion, a PE ratio of 57.23, a PEG ratio of 3.03 and a beta of 1.47. The business has a fifty day moving average of $137.53 and a two-hundred day moving average of $106.51. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last announced its 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 return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. Analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Barclays increased their price objective on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Morgan Stanley upped their target price on Arista Networks from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Melius Research upped their target price on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Rosenblatt Securities upped their target price on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $162.00.

Insider Activity

In other news, 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 value 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 trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total value of $1,179,920.00. Following the completion of the sale, the director owned 41,784 shares of the company's stock, valued at approximately $6,162,722.16. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,678,904 shares of company stock worth $894,021,161. 3.39% of the stock is owned by corporate insiders.

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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