Seamount Financial Group Inc. Purchases New Position in Arista Networks, Inc. $ANET

Key Points

• Seamount Financial Group Inc. has acquired a new position in Arista Networks, purchasing 3,640 shares valued at approximately $372,000.
• Arista Networks reported a strong Q2 performance, with earnings per share of $0.73 and revenue of $2.20 billion, surpassing analysts' expectations.
• Several institutional investors have significantly increased their holdings in Arista, contributing to a total of 82.47% institutional ownership of the company's stock.

Seamount Financial Group Inc. acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,640 shares of the technology company's stock, valued at approximately $372,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock worth $7,581,955,000 after purchasing an additional 1,771,982 shares during the last quarter. Alliancebernstein L.P. boosted its position in Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after buying an additional 1,889,198 shares in the last quarter. Nuveen LLC acquired a new position in Arista Networks in the first quarter valued at about $933,626,000. Northern Trust Corp grew its stake in Arista Networks by 3.7% during the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock worth $799,244,000 after buying an additional 372,677 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arista Networks by 37.3% during the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock worth $740,126,000 after buying an additional 2,594,184 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Up 2.8%

Arista Networks stock opened at $149.61 on Tuesday. The business's 50-day simple moving average is $138.18 and its 200 day simple moving average is $107.14. The stock has a market cap of $188.04 billion, a price-to-earnings ratio of 58.84, 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 $156.32.

Arista Networks (NYSE:ANET - Get Free Report) last released its 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. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company's revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Barclays boosted their price objective on Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Needham & Company LLC raised their target price on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Arista Networks in a report on Saturday, September 27th. Finally, Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Nineteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of "Moderate Buy" and an average price target of $162.00.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value 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 approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,678,904 shares of company stock valued at $894,021,161 in the last quarter. Corporate insiders own 3.39% of the company's stock.

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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