Sumitomo Mitsui DS Asset Management Company Ltd Buys 3,919 Shares of Arista Networks, Inc. $ANET

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Arista Networks by 1.7%, acquiring an additional 3,919 shares, bringing its total holdings to 239,709 shares valued at approximately $24.5 million.
• Arista Networks reported a quarterly earnings per share (EPS) of $0.73, surpassing analyst expectations, with revenue increasing by 30.4% year-over-year to $2.20 billion.
• Analysts have raised their target prices on Arista Networks stock, with UBS Group setting a target of $155, and both JPMorgan and Evercore ISI increasing theirs to $175, indicating a consensus rating of "Moderate Buy."

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,709 shares of the technology company's stock after acquiring an additional 3,919 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Arista Networks were worth $24,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. McIlrath & Eck LLC purchased a new position in Arista Networks during the 4th quarter worth $35,000. HighMark Wealth Management LLC raised its stake in shares of Arista Networks by 179.7% during the 1st 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 period. Cloud Capital Management LLC bought a new stake in shares of Arista Networks during the 1st quarter worth $30,000. Ameriflex Group Inc. bought a new stake in shares of Arista Networks during the 4th quarter worth $46,000. Finally, Saudi Central Bank bought a new stake in shares of Arista Networks during the 1st quarter worth $33,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ANET. The Goldman Sachs Group lifted their target price on Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Barclays lifted their target price on Arista Networks from $151.00 to $179.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Morgan Stanley lifted their target price on Arista Networks from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective on the stock. in a research note on Wednesday, June 11th. Finally, Needham & Company LLC boosted their price objective on Arista Networks from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the completion of the sale, the director directly owned 57,784 shares in the company, valued at $6,761,305.84. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the transaction, the senior vice president directly owned 12,976 shares in the company, valued at $1,771,353.76. The trade was a 69.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,526,614 shares of company stock valued at $975,547,217 over the last three months. 3.39% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET traded up $3.75 during midday trading on Thursday, hitting $146.59. 6,916,224 shares of the company traded hands, compared to its average volume of 8,793,617. The stock has a 50-day moving average of $130.04 and a 200-day moving average of $101.63. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32. The firm has a market cap of $184.24 billion, a P/E ratio of 57.66, a PEG ratio of 2.98 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly 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 firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Sell-side analysts forecast 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.