Arista Networks, Inc. $ANET Shares Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP boosted its stake in Arista Networks, Inc. by 488.6% during the first quarter, acquiring a total of 46,063 shares worth approximately $3.57 million.
• Arista Networks reported a quarterly earnings per share of $0.73, exceeding estimates, and its revenue increased by 30.4% year-over-year to $2.20 billion.
• Analysts have significantly raised price targets for Arista Networks, with Piper Sandler setting a target at $143.00 and Barclays at $151.00, reflecting a positive outlook on the company's stock.

Sciencast Management LP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 488.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 46,063 shares of the technology company's stock after purchasing an additional 38,237 shares during the quarter. Arista Networks accounts for 0.8% of Sciencast Management LP's holdings, making the stock its 21st biggest holding. Sciencast Management LP's holdings in Arista Networks were worth $3,569,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Clearstead Trust LLC lifted its stake in Arista Networks by 5.1% in the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after purchasing an additional 119 shares during the last quarter. Pier 88 Investment Partners LLC lifted its stake in Arista Networks by 1.5% in the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after purchasing an additional 120 shares during the last quarter. Optimum Investment Advisors lifted its stake in Arista Networks by 31.3% in the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after purchasing an additional 125 shares during the last quarter. PFG Advisors lifted its stake in Arista Networks by 2.7% in the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after purchasing an additional 131 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Arista Networks by 9.4% during the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock valued at $126,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Arista Networks Stock Up 6.4%

Shares of ANET traded up $9.05 during trading hours on Wednesday, reaching $150.96. 19,754,300 shares of the company traded hands, compared to its average volume of 10,354,509. The stock has a market capitalization of $189.74 billion, a P/E ratio of 59.38, a P/E/G ratio of 3.29 and a beta of 1.50. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $151.71. The business has a fifty day moving average price of $124.09 and a 200-day moving average price of $99.08.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter last year, the company earned $0.53 EPS. The firm'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. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,278,378 shares of company stock worth $787,274,967 over the last quarter. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ANET. KeyCorp lifted their target price on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. UBS Group lifted their target price on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays reaffirmed an "overweight" rating and set a $151.00 target price (up from $119.00) on shares of Arista Networks in a research report on Thursday, August 7th. Citigroup boosted their price objective on shares of Arista Networks from $123.00 to $136.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research started coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of "Moderate Buy" and an average price target of $138.79.

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.