Sandhill Capital Partners LLC Invests $19.59 Million in Arista Networks, Inc. $ANET

Key Points

• Sandhill Capital Partners LLC invested approximately $19.59 million in Arista Networks, acquiring 252,831 shares, making it the firm's 22nd largest position.
• Recent analysis from several firms raised their price targets for Arista Networks, with Piper Sandler setting it at $143.00 and Morgan Stanley at $125.00, while maintaining a "neutral" rating.
• CEO Jayshree Ullal sold over 1.7 million shares of Arista Networks stock worth $243 million, reducing her ownership by nearly 24%.

Sandhill Capital Partners LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 252,831 shares of the technology company's stock, valued at approximately $19,589,000. Arista Networks comprises about 1.6% of Sandhill Capital Partners LLC's investment portfolio, making the stock its 22nd largest position.

A number of other large investors also recently added to or reduced their stakes in the company. DSG Capital Advisors LLC purchased a new position in Arista Networks during the 4th quarter valued at about $5,984,000. Ibex Wealth Advisors boosted its stake in shares of Arista Networks by 14.4% in the first quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company's stock valued at $4,501,000 after purchasing an additional 7,329 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Arista Networks in the first quarter valued at approximately $629,000. Commonwealth Equity Services LLC increased its stake in Arista Networks by 19.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company's stock worth $47,519,000 after buying an additional 101,162 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in Arista Networks during the 1st quarter worth approximately $15,227,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the subject of several recent research reports. Piper Sandler lifted their price objective on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Rosenblatt Securities increased their price objective on Arista Networks from $106.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley increased their price objective on Arista Networks from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Redburn Atlantic assumed coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price on the stock. Finally, Wolfe Research initiated coverage on Arista Networks in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and an average target price of $138.07.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 1,785,165 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 5,698,074 shares of the company's stock, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 5,767,574 shares of company stock valued at $714,032,242. Company insiders own 3.54% of the company's stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $132.4360 on Wednesday. The business has a 50-day moving average of $111.58 and a two-hundred day moving average of $96.41. The firm has a market capitalization of $166.45 billion, a PE ratio of 52.09, a P/E/G ratio of 3.24 and a beta of 1.37. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

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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