Roman Butler Fullerton & Co. Acquires Shares of 11,841 Arista Networks, Inc. $ANET

Key Points

• Roman Butler Fullerton & Co. acquired 11,841 shares of Arista Networks, valued at approximately $1.211 million, in the second quarter of 2023.
• Insider transactions include CEO Jayshree Ullal selling 1.785 million shares for over $243 million, reducing her ownership share by 23.86%.
• Research analysts have given Arista Networks an average rating of "Moderate Buy" with a consensus price target of $163.94, following several upgrades and positive quarterly earnings results.

Roman Butler Fullerton & Co. acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 11,841 shares of the technology company's stock, valued at approximately $1,211,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HighMark Wealth Management LLC raised its stake in shares of Arista Networks by 179.7% during 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 during the last quarter. Cloud Capital Management LLC purchased a new position in Arista Networks in the 1st quarter valued at $30,000. Saudi Central Bank acquired a new position in Arista Networks in the 1st quarter valued at $33,000. REAP Financial Group LLC raised its position in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after buying an additional 175 shares during the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in shares of Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company's stock worth $35,000 after acquiring an additional 143 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ANET. Weiss Ratings reiterated a "buy (b-)" rating on shares of Arista Networks in a research note on Tuesday, October 14th. BNP Paribas upgraded Arista Networks from a "hold" rating to an "outperform" rating in a research report on Thursday, September 25th. Needham & Company LLC raised their price target on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. KeyCorp lifted their price target on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.94.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks 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 completion of the transaction, the chief executive officer owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. The trade was a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 6,678,904 shares of company stock worth $895,788,521. Company insiders own 3.39% of the company's stock.

Arista Networks Price Performance

ANET opened at $146.50 on Thursday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $162.68. The stock has a market cap of $184.13 billion, a P/E ratio of 57.62, a P/E/G ratio of 3.04 and a beta of 1.47. The stock's 50 day simple moving average is $142.55 and its 200 day simple moving average is $112.47.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. Arista Networks's revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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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