Public Employees Retirement System of Ohio Sells 7,884 Shares of Arista Networks, Inc. $ANET

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Arista Networks by 1.8%, selling 7,884 shares and now owns 429,721 shares valued at approximately $43.97 million.
• Several financial institutions have recently made significant changes to their positions in Arista Networks, with HighMark Wealth Management increasing its stake by 179.7% and multiple new investments from various firms.
• Wall Street analysts have upgraded their price targets for Arista Networks, with Melius Research setting a new target of $185.00 and Goldman Sachs raising theirs to $175.00, reflecting strong market interest and optimistic projections.

Public Employees Retirement System of Ohio lowered its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 429,721 shares of the technology company's stock after selling 7,884 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Arista Networks were worth $43,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighMark Wealth Management LLC grew its stake in Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Arista Networks during the 1st quarter valued at $30,000. Ameriflex Group Inc. bought a new stake in Arista Networks during the 4th quarter valued at $46,000. Saudi Central Bank bought a new stake in Arista Networks during the 1st quarter valued at $33,000. Finally, Costello Asset Management INC boosted its position in Arista Networks by 51.3% during the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock valued at $35,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ANET. Melius Research increased their target price on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Morgan Stanley increased their target price on Arista Networks from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. The Goldman Sachs Group increased their target price on Arista Networks from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, September 12th. BNP Paribas cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.88.

Arista Networks Trading Down 1.1%

Shares of ANET opened at $143.82 on Wednesday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $156.32. The stock has a fifty day moving average price of $132.32 and a 200-day moving average price of $103.02. The firm has a market cap of $180.76 billion, a PE ratio of 56.57, a P/E/G ratio of 3.03 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business's revenue for the quarter was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the transaction, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. This trade represents a 23.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 7,640,614 shares of company stock valued at $992,096,077. Company insiders own 3.54% of the company's stock.

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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