Price T Rowe Associates Inc. MD Decreases Stock Position in Arista Networks, Inc. $ANET

Key Points

• Price T Rowe Associates Inc. MD decreased its stake in Arista Networks, Inc. by 34.9%, holding approximately 2.6 million shares worth $201.98 million after selling 1.4 million shares in Q1.
• Arista Networks reported $0.73 EPS for the last quarter, surpassing estimates, with a 30.4% year-over-year revenue increase to $2.20 billion.
• Insider transactions included CEO Jayshree Ullal selling 1.8 million shares, representing a 23.86% decrease in her stock position.

Price T Rowe Associates Inc. MD cut its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 34.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,606,843 shares of the technology company's stock after selling 1,399,894 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.21% of Arista Networks worth $201,980,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ANET. Clearstead Trust LLC boosted its stake in shares of Arista Networks by 5.1% during the 1st quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after purchasing an additional 119 shares during the period. Pier 88 Investment Partners LLC raised its position in Arista Networks by 1.5% in the 1st quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after purchasing an additional 120 shares during the period. Optimum Investment Advisors lifted its stake in Arista Networks by 31.3% in the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after purchasing an additional 125 shares during the last quarter. PFG Advisors boosted its position in shares of Arista Networks by 2.7% during the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock valued at $392,000 after buying an additional 131 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of Arista Networks by 9.4% during the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock valued at $126,000 after buying an additional 139 shares during the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Trading Up 0.9%

Shares of ANET stock opened at $133.1660 on Monday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $141.99. The stock has a market capitalization of $167.37 billion, a price-to-earnings ratio of 52.38, a P/E/G ratio of 3.13 and a beta of 1.37. The stock has a fifty day simple moving average of $113.86 and a two-hundred day simple moving average of $96.67.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm 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 business'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 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the transaction, the chief executive officer owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 5,823,574 shares of company stock worth $721,676,802. 3.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. BNP Paribas Exane lowered Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a research note on Wednesday, June 11th. Needham & Company LLC lifted their target price on Arista Networks from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Evercore ISI set a $150.00 target price on shares of Arista Networks and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.07.

Arista Networks Company 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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