Parisi Gray Wealth Management Boosts Stock Position in Arista Networks, Inc. $ANET

Key Points

• Parisi Gray Wealth Management increased its stake in Arista Networks by 51% during the second quarter, owning 5,762 shares valued at approximately $590,000.
• CEO Jayshree Ullal sold over 1.2 million shares of Arista Networks for $185.3 million, leading to an 18.82% decrease in her ownership.
• Analysts have a favorable outlook on Arista Networks, with an average target price boosted to $157.56 and a majority rating of "Buy" from research firms.

Parisi Gray Wealth Management grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 51.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,762 shares of the technology company's stock after buying an additional 1,947 shares during the period. Parisi Gray Wealth Management's holdings in Arista Networks were worth $590,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Arista Networks by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after purchasing an additional 1,771,982 shares during the period. 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 valued at $1,778,880,000 after purchasing an additional 1,889,198 shares during the last quarter. Nuveen LLC bought a new position in shares of Arista Networks during the 1st quarter valued at approximately $933,626,000. Northern Trust Corp increased its position in shares of Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock valued at $799,244,000 after purchasing an additional 372,677 shares during the last quarter. Finally, 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 valued at $740,126,000 after purchasing an additional 2,594,184 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,247,688 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at $799,567,735.71. This represents a 18.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 30,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $136.51, for a total value of $4,095,300.00. Following the sale, the senior vice president owned 12,976 shares of the company's stock, valued at $1,771,353.76. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,582,614 shares of company stock worth $980,712,097 in the last three months. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday. William Blair restated an "outperform" rating on shares of Arista Networks in a report on Friday. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. KeyCorp boosted their price objective on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Redburn Atlantic began coverage on Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $157.56.

Arista Networks Trading Down 8.9%

Shares of ANET stock opened at $139.35 on Monday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $156.32. The stock has a market capitalization of $175.14 billion, a price-to-earnings ratio of 54.81, a P/E/G ratio of 3.28 and a beta of 1.49. The stock has a fifty day simple moving average of $126.85 and a two-hundred day simple moving average of $100.27.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations 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 prior year, the business posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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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