Peak Financial Advisors LLC Sells 2,979 Shares of Arista Networks, Inc. $ANET

Key Points

• Peak Financial Advisors LLC sold 2,979 shares of Arista Networks, reducing its stake by 10.3%, while the firm's total holdings in the company now value approximately $2.65 million.
• Several analysts have recently raised their price targets for Arista Networks, with Citigroup increasing its target from $136 to $176, indicating a strong buy sentiment.
• CEO Jayshree Ullal sold over 1.24 million shares at an average price of $148.53, resulting in an 18.82% decrease in her ownership of the stock.

Peak Financial Advisors LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,901 shares of the technology company's stock after selling 2,979 shares during the period. Arista Networks makes up approximately 1.4% of Peak Financial Advisors LLC's holdings, making the stock its 20th largest holding. Peak Financial Advisors LLC's holdings in Arista Networks were worth $2,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. HighMark Wealth Management LLC increased its stake 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 during the period. Cloud Capital Management LLC bought a new position in Arista Networks during the first quarter valued at about $30,000. Saudi Central Bank bought a new position in Arista Networks during the first quarter valued at about $33,000. McIlrath & Eck LLC bought a new position in Arista Networks during the fourth quarter valued at about $35,000. Finally, Tradewinds Capital Management LLC increased its stake in Arista Networks by 45.8% during 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. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ANET shares. Citigroup upped their price objective on Arista Networks from $136.00 to $176.00 and gave the company a "buy" rating in a research note on Friday. Wolfe Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. Melius Research upped their price objective on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday. Finally, KeyCorp upped their price objective on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.56.

Arista Networks Price Performance

NYSE ANET opened at $139.35 on Friday. The firm has a market cap of $175.14 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 3.60 and a beta of 1.50. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32. The stock's 50 day simple moving average is $126.85 and its 200 day simple moving average is $100.21.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.Arista Networks's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $117.01, for a total value of $936,080.00. Following the completion of the transaction, the director owned 57,784 shares in the company, valued at $6,761,305.84. The trade was a 12.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,582,614 shares of company stock worth $980,712,097 in the last three months. Insiders own 3.39% of the company's stock.

Arista Networks Profile

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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