Timucuan Asset Management Inc. FL Acquires 3,143 Shares of Arista Networks, Inc. $ANET

Key Points

• Timucuan Asset Management Inc. has increased its holdings in Arista Networks, Inc. by 0.3% by acquiring an additional 3,143 shares, bringing its total ownership to approximately 1.17 million shares, valued at around $90.79 million.
• Arista reported a fiscal quarterly revenue of $2.20 billion, exceeding analyst expectations, along with a notable 40.90% net margin and earnings per share of $0.73, beating estimates by $0.08.
• The company initiated a share buyback program allowing it to repurchase $1.50 billion worth of its outstanding shares, indicating management's belief that its stock is currently undervalued.

Timucuan Asset Management Inc. FL grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,171,746 shares of the technology company's stock after acquiring an additional 3,143 shares during the period. Arista Networks accounts for approximately 2.8% of Timucuan Asset Management Inc. FL's holdings, making the stock its 14th largest position. Timucuan Asset Management Inc. FL owned about 0.09% of Arista Networks worth $90,787,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Trexquant Investment LP lifted its stake in shares of Arista Networks by 147.6% in the first quarter. Trexquant Investment LP now owns 687,269 shares of the technology company's stock worth $53,250,000 after buying an additional 409,686 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Arista Networks in the first quarter worth $94,000. Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Arista Networks by 4.8% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 858,562 shares of the technology company's stock worth $66,521,000 after buying an additional 39,536 shares during the last quarter. Beck Bode LLC raised its stake in Arista Networks by 15.8% during the 1st quarter. Beck Bode LLC now owns 189,778 shares of the technology company's stock valued at $14,704,000 after purchasing an additional 25,943 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in Arista Networks by 79.9% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 297,277 shares of the technology company's stock valued at $23,033,000 after purchasing an additional 132,014 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

ANET opened at $133.29 on Thursday. The firm's 50-day simple moving average is $116.38 and its 200-day simple moving average is $97.29. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $141.99. The firm has a market cap of $167.52 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 3.16 and a beta of 1.37.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm's quarterly revenue was up 30.4% compared to the same quarter last year. Arista Networks has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a share repurchase plan on Tuesday, May 6th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,040 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $132.77, for a total transaction of $3,191,790.80. Following the sale, the chief executive officer owned 9,917 shares of the company's stock, valued at $1,316,680.09. This represents a 70.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director directly owned 57,784 shares in the company, valued at approximately $6,761,305.84. This represents a 12.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,847,614 shares of company stock valued at $724,868,593 in the last 90 days. 3.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ANET shares. Morgan Stanley boosted their price target on shares of Arista Networks from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. BNP Paribas Exane lowered shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a report on Wednesday, June 11th. Piper Sandler boosted their price target on shares of Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Redburn Atlantic started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 price target on the stock. Finally, KeyCorp boosted their price target 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. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $138.07.

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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