Platinum Investment Management Ltd. Cuts Stake in Arista Networks, Inc. $ANET

Key Points

• Platinum Investment Management Ltd. reduced its stake in Arista Networks by 60.1% during the second quarter, now holding 8,663 shares valued at approximately $886,000.
• Arista Networks reported earnings of $0.73 per share for the last quarter, exceeding analyst expectations, with a 30.4% year-over-year revenue increase to $2.20 billion.
• Several investment firms have upgraded their ratings and target prices for Arista Networks, indicating a consensus target price of $162.00, with 18 analysts rating the stock as a Buy.

Platinum Investment Management Ltd. lowered its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 60.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,663 shares of the technology company's stock after selling 13,027 shares during the period. Platinum Investment Management Ltd.'s holdings in Arista Networks were worth $886,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. HighMark Wealth Management LLC increased its stake in shares of 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 buying an additional 230 shares during the period. Cloud Capital Management LLC purchased a new position in Arista Networks in the first quarter valued at about $30,000. Saudi Central Bank purchased a new position in Arista Networks in the first quarter valued at about $33,000. Tradewinds Capital Management LLC grew its stake in Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock valued at $35,000 after purchasing an additional 143 shares during the last quarter. Finally, Costello Asset Management INC grew its stake in Arista Networks by 51.3% in the first quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $149.32 on Thursday. The company has a market cap of $187.67 billion, a PE ratio of 58.73, a P/E/G ratio of 3.04 and a beta of 1.47. The business has a 50-day simple moving average of $136.30 and a two-hundred day simple moving average of $105.52. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $156.32.

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

Insider Buying and Selling

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider owned 12,976 shares of the company's stock, valued at $1,839,867.04. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. The disclosure for this sale can be found here. Insiders sold 6,670,904 shares of company stock valued at $892,841,241 over the last quarter. 3.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ANET. KeyCorp lifted their target price on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Evercore ISI lifted their target price on Arista Networks from $150.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. Rosenblatt Securities lifted their target price on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Piper Sandler lifted their target price on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, BNP Paribas Exane upgraded Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 target price on the stock in a research note on Thursday, September 25th. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

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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