Veracity Capital LLC Sells 1,934 Shares of Arista Networks, Inc. $ANET

Key Points

• Veracity Capital LLC reduced its stake in Arista Networks by 13.6%, selling 1,934 shares during the second quarter, bringing its total holdings to 12,321 shares worth approximately $1.26 million.
• CEO Jayshree Ullal sold 1.78 million shares of Arista Networks, resulting in a 23.86% decrease in ownership, with insiders collectively selling over 7.5 million shares in the past ninety days.
• Arista Networks received multiple upgrades from analysts, with price targets raised to as high as $175, indicating strong positive sentiment and projected growth for the company.

Veracity Capital LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,321 shares of the technology company's stock after selling 1,934 shares during the period. Veracity Capital LLC's holdings in Arista Networks were worth $1,261,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Lifestyle Asset Management Inc. grew its holdings in shares of Arista Networks by 6.7% in the second quarter. Lifestyle Asset Management Inc. now owns 3,955 shares of the technology company's stock valued at $405,000 after acquiring an additional 249 shares in the last quarter. Beacon Financial Group grew its holdings in shares of Arista Networks by 2.7% in the second quarter. Beacon Financial Group now owns 12,119 shares of the technology company's stock valued at $1,240,000 after acquiring an additional 315 shares in the last quarter. Czech National Bank grew its holdings in shares of Arista Networks by 6.1% in the second quarter. Czech National Bank now owns 251,733 shares of the technology company's stock valued at $25,755,000 after acquiring an additional 14,468 shares in the last quarter. Sandbox Financial Partners LLC bought a new position in shares of Arista Networks in the second quarter valued at approximately $220,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Arista Networks by 21.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 4,089 shares of the technology company's stock valued at $418,000 after purchasing an additional 732 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 2.6%

Shares of ANET stock traded up $3.75 on Thursday, reaching $146.59. The company's stock had a trading volume of 6,878,923 shares, compared to its average volume of 10,389,355. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $156.32. The company has a market capitalization of $184.24 billion, a P/E ratio of 57.66, a PEG ratio of 2.96 and a beta of 1.50. The stock's 50 day simple moving average is $129.23 and its 200-day simple moving average is $101.21.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm's revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. Research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. KeyCorp increased their price objective on Arista Networks from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Melius Research increased their price objective on Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a report on Friday, September 12th. Rosenblatt Securities increased their price objective on Arista Networks from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Barclays increased their price objective on Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Finally, Piper Sandler increased their price objective on Arista Networks from $89.00 to $143.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Sixteen 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, the stock has an average rating of "Moderate Buy" and an average target price of $157.88.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks 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 transaction, the chief executive officer directly owned 5,698,074 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,526,614 shares of company stock worth $975,547,217 in the last ninety days. 3.39% of the stock is currently owned by company 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.