Phoenix Financial Ltd. Sells 2,127 Shares of Arista Networks, Inc. $ANET

Key Points

• Phoenix Financial Ltd. has reduced its holdings in Arista Networks by 8.7%, selling 2,127 shares to hold a total of 22,420 shares valued at approximately $2.29 million.
• Several large investors have significantly increased their stakes in Arista Networks, with Nordea Investment Management AB growing their position by 193.3% and AQR Capital Management LLC increasing theirs by 153.8%.
• Arista Networks' stock price earned a consensus rating of "Moderate Buy" from analysts, with an average price target set at $163.94 following a series of positive earnings reports.

Phoenix Financial Ltd. reduced its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,420 shares of the technology company's stock after selling 2,127 shares during the quarter. Phoenix Financial Ltd.'s holdings in Arista Networks were worth $2,292,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Arista Networks in the first quarter valued at about $933,626,000. AQR Capital Management LLC grew its stake in Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company's stock worth $584,119,000 after buying an additional 4,678,372 shares in the last quarter. Nordea Investment Management AB grew its stake in Arista Networks by 193.3% during the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company's stock worth $721,342,000 after buying an additional 4,656,021 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Arista Networks by 37.3% during the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after buying an additional 2,594,184 shares in the last quarter. Finally, Amundi grew its stake in Arista Networks by 35.3% during the first quarter. Amundi now owns 8,582,109 shares of the technology company's stock worth $611,852,000 after buying an additional 2,240,045 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other news, insider Kenneth Duda sold 30,000 shares of the company's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares of the company's stock, valued at $1,852,324. This represents a 69.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 1,247,688 shares of Arista Networks stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the transaction, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,678,904 shares of company stock valued at $895,788,521 in the last ninety days. Corporate insiders own 3.54% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ANET shares. William Blair reiterated an "outperform" rating on shares of Arista Networks in a research note on Friday, September 12th. Barclays raised their price target on shares of Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a research note on Friday, September 12th. Piper Sandler raised their price target on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Melius Research raised their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, UBS Group raised their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.94.

Arista Networks Stock Performance

NYSE ANET opened at $145.87 on Wednesday. The company has a market capitalization of $183.34 billion, a price-to-earnings ratio of 57.37, a PEG ratio of 3.05 and a beta of 1.47. The stock has a 50-day moving average of $142.38 and a 200 day moving average of $112.24. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $162.68.

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 (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the firm posted $0.53 earnings per share. The business's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share 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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