Seascape Capital Management Purchases 1,879 Shares of Arista Networks, Inc. $ANET

Key Points

• Seascape Capital Management increased its stake in Arista Networks by 7.3% during the second quarter, acquiring an additional 1,879 shares to reach a total of 27,596 shares valued at approximately $2.82 million.
• CEO Jayshree Ullal sold 1,785,165 shares at $136.22 each, resulting in a total transaction of over $243 million, which reduced her ownership by 23.86% to about 5.7 million shares.
• Research analysts have raised their price targets for Arista Networks, with Wells Fargo increasing its target from $150 to $175, reflecting a positive outlook for the stock, which has a current consensus rating of "Moderate Buy."

Seascape Capital Management lifted its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 7.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,596 shares of the technology company's stock after buying an additional 1,879 shares during the quarter. Seascape Capital Management's holdings in Arista Networks were worth $2,823,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Arista Networks by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company's stock valued at $7,581,955,000 after purchasing an additional 1,771,982 shares during the last quarter. Alliancebernstein L.P. raised its position in Arista Networks by 9.0% in the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company's stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares during the last quarter. Nuveen LLC purchased a new position in Arista Networks in the 1st quarter valued at $933,626,000. Northern Trust Corp boosted its position in shares of Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company's stock worth $799,244,000 after purchasing an additional 372,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Arista Networks by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company's stock valued at $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 Trading Down 2.7%

NYSE:ANET traded down $4.10 during trading hours on Monday, hitting $145.51. 8,663,402 shares of the company traded hands, compared to its average volume of 9,369,324. The stock has a market capitalization of $182.89 billion, a price-to-earnings ratio of 57.23, a P/E/G ratio of 3.12 and a beta of 1.49. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $156.32. The firm has a 50-day moving average of $131.59 and a 200 day moving average of $102.73.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The firm 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 business's revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $243,175,176.30. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 7,582,614 shares of company stock valued at $983,487,717 in the last quarter. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANET. KeyCorp increased their price target on Arista Networks from $115.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Morgan Stanley increased their target price on Arista Networks from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Piper Sandler increased their target price on Arista Networks from $89.00 to $143.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Melius Research boosted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Rosenblatt Securities lifted their target price on Arista Networks from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday, September 12th. Sixteen equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.

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.