Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Arista Networks, Inc. $ANET

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Arista Networks by 1.6%, owning 2,496,333 shares worth approximately $255.4 million as of the latest reporting period.
• Arista Networks reported $2.20 billion in revenue for the last quarter, exceeding analyst estimates, with a notable net margin of 40.90% and an EPS of $0.73.
• Several hedge funds, including REAP Financial Group LLC and HighMark Wealth Management LLC, made significant increases in their holdings in Arista Networks during the second quarter.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,496,333 shares of the technology company's stock after purchasing an additional 38,160 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Arista Networks worth $255,400,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ANET. REAP Financial Group LLC boosted its stake in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares in the last quarter. HighMark Wealth Management LLC raised its position 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 last quarter. Cloud Capital Management LLC acquired a new position in shares of Arista Networks during the 1st quarter worth about $30,000. Saudi Central Bank acquired a new position in shares of Arista Networks during the 1st quarter worth about $33,000. Finally, Costello Asset Management INC raised its position in shares of Arista Networks by 51.3% during the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company's stock worth $35,000 after purchasing an additional 154 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 1.0%

Shares of ANET stock opened at $154.32 on Friday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $162.68. The stock has a market capitalization of $193.96 billion, a PE ratio of 60.70, a P/E/G ratio of 3.18 and a beta of 1.47. The firm has a 50 day moving average of $143.22 and a two-hundred day moving average of $113.64.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the business earned $0.53 EPS. The company's revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of several research analyst reports. Needham & Company LLC upped their price target on shares of Arista Networks from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. KeyCorp increased their price objective on shares of Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. UBS Group increased their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. Finally, BNP Paribas raised shares of Arista Networks from a "hold" rating to an "outperform" rating in a research report on Thursday, September 25th. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.94.

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the firm's stock in a transaction on Friday, October 17th. The shares were sold at an average price of $142.75, for a total value of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,852,324. This trade represents a 69.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 1,247,688 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the sale, the chief executive officer owned 5,383,207 shares in the company, valued at $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,617,342 shares of company stock worth $888,707,954. 3.39% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.