Arista Networks, Inc. $ANET is Pinnacle Wealth Management LLC's 10th Largest Position

Key Points

• Pinnacle Wealth Management LLC reduced its stake in Arista Networks by 23.8%, selling 7,510 shares and now holding 24,041 shares valued at approximately $1.86 million.
• Wall Street analysts have issued positive ratings for Arista Networks with target prices ranging from $130 to $155, awarding the stock an average rating of "Moderate Buy".
• Arista Networks reported a 30.4% increase in quarterly revenue year-over-year, achieving $2.20 billion and exceeding analyst expectations, while also initiating a $1.50 billion share repurchase plan.

Pinnacle Wealth Management LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,041 shares of the technology company's stock after selling 7,510 shares during the quarter. Arista Networks accounts for approximately 2.1% of Pinnacle Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Pinnacle Wealth Management LLC's holdings in Arista Networks were worth $1,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cresset Asset Management LLC boosted its stake in Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after buying an additional 20,059,303 shares during the period. Nuveen LLC purchased a new stake in shares of Arista Networks in the first quarter valued at $933,626,000. Nuveen Asset Management LLC raised its stake in shares of Arista Networks by 330.8% in the fourth quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after acquiring an additional 8,671,235 shares during the period. Northern Trust Corp raised its stake in shares of Arista Networks by 354.3% in the fourth quarter. Northern Trust Corp now owns 9,942,816 shares of the technology company's stock valued at $1,098,979,000 after acquiring an additional 7,753,991 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Arista Networks by 278.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,641,326 shares of the technology company's stock valued at $955,126,000 after acquiring an additional 6,357,753 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the completion of the transaction, the director directly owned 57,784 shares in the company, valued at $6,761,305.84. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 30,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $136.51, for a total value of $4,095,300.00. Following the transaction, 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 5,823,574 shares of company stock valued at $721,676,802 in the last three months. 3.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. Wolfe Research began coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. The Goldman Sachs Group increased their target price on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $130.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. BNP Paribas lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley boosted their target price on shares of Arista Networks from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $138.07.

Arista Networks Stock Up 0.4%

Shares of ANET traded up $0.5210 during mid-day trading on Friday, hitting $132.5510. 4,586,554 shares of the company traded hands, compared to its average volume of 10,480,653. The business has a 50 day moving average of $113.05 and a 200 day moving average of $96.79. The company has a market capitalization of $166.60 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data 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. The company 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%.The firm's revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.