Arista Networks, Inc. $ANET Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. sold 57,199 shares of Arista Networks, reducing its stake by 4.3%, while still owning approximately 1,270,852 shares valued at $98.47 million.
• Arista Networks reported a 30.4% increase in revenue year-over-year for the latest quarter, totaling $2.20 billion with earnings per share of $0.73, surpassing estimates.
• The company's Board has authorized a $1.50 billion share repurchase program, suggesting that leadership believes the stock is undervalued.

Raymond James Financial Inc. reduced its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,270,852 shares of the technology company's stock after selling 57,199 shares during the quarter. Raymond James Financial Inc. owned 0.10% of Arista Networks worth $98,466,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ANET. HighMark Wealth Management LLC grew its position in shares of Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after acquiring an additional 230 shares during the period. Quarry LP boosted its stake in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Cloud Capital Management LLC bought a new position in Arista Networks during the first quarter valued at $30,000. Finally, McIlrath & Eck LLC bought a new position in shares of Arista Networks in the 4th quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

Shares of NYSE:ANET traded up $0.4530 during trading hours on Thursday, hitting $131.9230. The company's stock had a trading volume of 3,949,718 shares, compared to its average volume of 10,505,845. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $141.99. The company has a market capitalization of $165.81 billion, a price-to-earnings ratio of 51.85, a P/E/G ratio of 3.12 and a beta of 1.37. The firm's fifty day moving average price is $112.32 and its 200 day moving average price is $96.65.

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

Arista Networks declared that its board has approved a stock repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on ANET. Morgan Stanley raised their price objective on shares of Arista Networks from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. UBS Group raised their price target on Arista Networks from $115.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI set a $150.00 target price on Arista Networks and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, KGI Securities downgraded Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.07.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the business'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 directly owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. The trade was a 23.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 5,823,574 shares of company stock valued at $721,676,802. Insiders own 3.39% 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.