Patton Fund Management Inc. Sells 35,530 Shares of Arista Networks, Inc. $ANET

Key Points

• Patton Fund Management sharply reduced its Arista Networks stake in the first quarter, selling 35,530 shares and cutting its holdings by 92.8% to 2,753 shares worth about $338,000.
• Arista Networks reported better-than-expected Q1 results, with earnings per share of $0.87 versus $0.81 expected and revenue of $2.71 billion versus $2.62 billion estimated, while revenue rose 35.1% year over year.
• Despite some insider selling, Wall Street remains bullish on ANET, with a consensus Buy rating and an average price target of $187.63; several analysts recently raised targets to as high as $200.

Patton Fund Management Inc. cut its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 92.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,753 shares of the technology company's stock after selling 35,530 shares during the period. Patton Fund Management Inc.'s holdings in Arista Networks were worth $338,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Knuff & Co LLC acquired a new stake in shares of Arista Networks during the 3rd quarter worth about $29,000. Board of the Pension Protection Fund acquired a new position in shares of Arista Networks in the 4th quarter valued at $26,000. Sankala Group LLC bought a new position in Arista Networks during the fourth quarter worth about $27,000. Prosperity Bancshares Inc acquired a new position in Arista Networks during the fourth quarter valued at approximately $28,000. Finally, Quarry LP acquired a new position in Arista Networks during the third quarter valued at approximately $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 4.2%

ANET opened at $164.22 on Tuesday. Arista Networks, Inc. has a 12-month low of $97.14 and a 12-month high of $179.80. The stock has a market cap of $206.78 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 2.43 and a beta of 1.61. The business has a 50 day moving average of $159.55 and a 200-day moving average of $143.05.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The firm's revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, analysts expect that Arista Networks, Inc. will post 3.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. Susquehanna raised Arista Networks to a "strong-buy" rating in a research report on Wednesday, April 1st. Barclays restated an "overweight" rating and issued a $195.00 price target (up from $184.00) on shares of Arista Networks in a report on Thursday, May 7th. TD Cowen reaffirmed a "buy" rating and set a $200.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Wednesday, May 6th. UBS Group reaffirmed a "buy" rating and issued a $187.00 target price (up from $177.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Finally, Bank of America boosted their target price on shares of Arista Networks from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $187.63.

Insider Buying and Selling

In related news, major shareholder Andreas Bechtolsheim sold 260,000 shares of Arista Networks stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $165.57, for a total transaction of $43,048,200.00. Following the completion of the sale, the insider directly owned 182,543,048 shares of the company's stock, valued at approximately $30,223,652,457.36. This trade represents a 0.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 428,000 shares of the business's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $177.44, for a total value of $75,944,320.00. Following the completion of the sale, the chief executive officer owned 5,209,207 shares of the company's stock, valued at $924,321,690.08. This trade represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,647,080 shares of company stock worth $431,329,762. 2.70% of the stock is owned by corporate insiders.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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