Rice Partnership LLC Makes New $3.25 Million Investment in Arista Networks, Inc. $ANET

Key Points

• Rice Partnership LLC has made a new investment of approximately $3.25 million in Arista Networks, purchasing 31,714 shares during the second quarter.
• Arista Networks CEO Jayshree Ullal sold over 1.78 million shares, resulting in a 23.86% decrease in her position, while insiders have sold a total of nearly $894 million in shares in the last three months.
• The company reported a 30.4% increase in revenue year-over-year, with earnings per share of $0.73 for the latest quarter, surpassing analysts' expectations.

Rice Partnership LLC bought a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 31,714 shares of the technology company's stock, valued at approximately $3,245,000.

Several other hedge funds have also added to or reduced their stakes in the stock. TFR Capital LLC. boosted its holdings in Arista Networks by 6.5% in the second quarter. TFR Capital LLC. now owns 15,930 shares of the technology company's stock worth $1,630,000 after acquiring an additional 971 shares in the last quarter. Boomfish Wealth Group LLC lifted its holdings in shares of Arista Networks by 3.9% during the second quarter. Boomfish Wealth Group LLC now owns 31,417 shares of the technology company's stock valued at $3,214,000 after purchasing an additional 1,166 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Arista Networks during the second quarter valued at $376,000. Fulton Breakefield Broenniman LLC bought a new position in shares of Arista Networks during the second quarter valued at $397,000. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Arista Networks by 4.1% during the second quarter. Maryland State Retirement & Pension System now owns 50,141 shares of the technology company's stock valued at $5,130,000 after purchasing an additional 1,964 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction that occurred 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 sale, the chief executive officer owned 5,698,074 shares of the company's stock, valued at $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 available through the SEC website. In the last three months, insiders sold 6,678,904 shares of company stock worth $894,021,161. Company insiders own 3.39% of the company's stock.

Arista Networks Trading Up 8.3%

NYSE:ANET opened at $157.37 on Thursday. The stock has a market capitalization of $197.79 billion, a P/E ratio of 61.90, a P/E/G ratio of 3.03 and a beta of 1.47. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $158.51. The stock has a 50-day moving average price of $139.41 and a 200 day moving average price of $107.74.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.53 EPS. Arista Networks'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. On average, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent research reports. UBS Group increased their target price on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wolfe Research increased their target price on Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, BNP Paribas Exane raised Arista Networks from a "neutral" rating to an "outperform" rating and set a $172.00 target price on the stock in a report on Thursday, September 25th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.00.

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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