Synovus Financial Corp Decreases Holdings in Arista Networks, Inc. $ANET

Key Points

• Synovus Financial Corp reduced its stake in Arista Networks, Inc. by 11.3% during the first quarter, now holding 19,372 shares valued at approximately $1.5 million.
• Other large investors like Vanguard Group and Cresset Asset Management have increased their holdings in Arista Networks, indicating a strong institutional interest in the company.
• Analysts have a consensus rating of "Moderate Buy" for Arista Networks, with a price target of $138.07, reflecting optimistic growth expectations.

Synovus Financial Corp lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,372 shares of the technology company's stock after selling 2,470 shares during the period. Synovus Financial Corp's holdings in Arista Networks were worth $1,501,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Arista Networks by 1.8% in the first 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 in the last quarter. Cresset Asset Management LLC grew its stake in Arista Networks by 277.5% during the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares in the last quarter. Nuveen LLC purchased a new position in Arista Networks during the first quarter valued at approximately $933,626,000. Nuveen Asset Management LLC grew its stake in Arista Networks by 330.8% during the fourth quarter. Nuveen Asset Management LLC now owns 11,292,585 shares of the technology company's stock valued at $1,248,169,000 after acquiring an additional 8,671,235 shares in the last quarter. Finally, 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 valued at $799,244,000 after acquiring an additional 372,677 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. KGI Securities cut shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Redburn Atlantic assumed coverage on shares of Arista Networks in a research note on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective for the company. Wolfe Research assumed coverage on shares of Arista Networks in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Piper Sandler boosted their price objective on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.07.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $134.32 on Wednesday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $141.99. The firm has a market cap of $168.82 billion, a PE ratio of 52.83, a PEG ratio of 3.13 and a beta of 1.37. The company has a 50 day simple moving average of $115.52 and a two-hundred day simple moving average of $97.04.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $0.53 earnings per share. Arista Networks's revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 192,979 shares of Arista Networks stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $139.67, for a total transaction of $26,953,376.93. Following the sale, the chief executive officer owned 5,623,721 shares of the company's stock, valued at approximately $785,465,112.07. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,823,574 shares of company stock worth $721,676,802 over the last three months. 3.54% of the stock is owned by insiders.

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.

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