Redwood Investments LLC Cuts Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Redwood Investments LLC significantly reduced its stake in Arista Networks, selling 25,543 shares and holding only 6,290 shares worth approximately $487,000 at the end of the first quarter.
• CEO Jayshree Ullal sold over 1.7 million shares of Arista Networks' stock, which represented a 23.86% decrease in her ownership, valued at over $243 million.
• Despite the sell-off, several institutional investors increased their stakes in the company, resulting in institutional ownership of 82.47% of Arista Networks' stock.

Redwood Investments LLC cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 80.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,290 shares of the technology company's stock after selling 25,543 shares during the period. Redwood Investments LLC's holdings in Arista Networks were worth $487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC grew its stake in shares of Arista Networks by 58.5% in the first quarter. Kestra Investment Management LLC now owns 24,051 shares of the technology company's stock worth $1,818,000 after purchasing an additional 8,880 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Arista Networks by 33.2% in the first quarter. Jones Financial Companies Lllp now owns 40,225 shares of the technology company's stock worth $3,117,000 after purchasing an additional 10,019 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Arista Networks in the first quarter worth $543,000. Teza Capital Management LLC bought a new stake in shares of Arista Networks in the first quarter worth $584,000. Finally, UniSuper Management Pty Ltd grew its stake in shares of Arista Networks by 20.5% in the first quarter. UniSuper Management Pty Ltd now owns 230,225 shares of the technology company's stock worth $17,838,000 after purchasing an additional 39,141 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANET. JPMorgan Chase & Co. raised their price objective on Arista Networks from $130.00 to $150.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Barclays restated an "overweight" rating and set a $151.00 price objective (up from $119.00) on shares of Arista Networks in a research report on Thursday, August 7th. Piper Sandler raised their price objective on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Citigroup raised their price objective on Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Evercore ISI set a $150.00 price objective on Arista Networks and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of "Moderate Buy" and a consensus price target of $138.79.

Arista Networks Trading Up 1.3%

NYSE ANET traded up $1.89 during trading hours on Tuesday, hitting $141.90. 6,106,975 shares of the company's stock were exchanged, compared to its average volume of 7,134,764. The stock has a 50-day simple moving average of $123.24 and a 200 day simple moving average of $98.78. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $145.46. The firm has a market cap of $178.35 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 3.29 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last released 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. The firm 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 in the previous year, the company posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 57,784 shares in the company, valued at $6,761,305.84. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 24,040 shares of Arista Networks stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $132.77, for a total value of $3,191,790.80. Following the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,316,680.09. The trade was a 70.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,839,614 shares of company stock worth $724,163,153 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

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.