Vident Advisory LLC Has $17.71 Million Holdings in Arista Networks, Inc. $ANET

Key Points

• Vident Advisory LLC increased its stake in Arista Networks by 61.3%, now owning 228,537 shares worth approximately $17.71 million, highlighting growing institutional interest in the company.
• Arista Networks reported strong earnings, with $0.73 earnings per share for the quarter, exceeding analyst expectations, and a 30.4% increase in revenue compared to the previous year.
• The company's stock has seen multiple analyst upgrades, with UBS raising its target price from $115 to $155 and a consensus rating of "Moderate Buy" among analysts.

Vident Advisory LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 61.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 228,537 shares of the technology company's stock after buying an additional 86,855 shares during the period. Vident Advisory LLC's holdings in Arista Networks were worth $17,707,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Clearstead Trust LLC increased its holdings in shares of Arista Networks by 5.1% during the first quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after buying an additional 119 shares in the last quarter. Pier 88 Investment Partners LLC increased its holdings in Arista Networks by 1.5% in the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock valued at $617,000 after purchasing an additional 120 shares during the period. Optimum Investment Advisors increased its holdings in Arista Networks by 31.3% in the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock valued at $41,000 after purchasing an additional 125 shares during the period. PFG Advisors increased its holdings in Arista Networks by 2.7% in the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock valued at $392,000 after purchasing an additional 131 shares during the period. Finally, Harbour Investments Inc. increased its holdings in Arista Networks by 9.4% in the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock valued at $126,000 after purchasing an additional 139 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of ANET stock traded up $0.23 on Monday, reaching $136.46. 7,957,378 shares of the company were exchanged, compared to its average volume of 9,078,280. The company has a market cap of $171.51 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 3.21 and a beta of 1.49. The company has a 50-day moving average of $118.31 and a 200-day moving average of $97.36. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $141.99.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business'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 EPS. Arista Networks has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 5,698,074 shares of the company's stock, valued at $776,191,640.28. This represents a 23.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 5,839,614 shares of company stock worth $724,163,153. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANET. Citigroup increased their price objective on Arista Networks from $123.00 to $136.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group increased their price objective on Arista Networks from $115.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a report on Wednesday, June 11th. Finally, Wedbush initiated coverage on Arista Networks in a report on Wednesday, May 28th. They issued an "outperform" rating for the company. Fourteen research 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 a consensus rating of "Moderate Buy" and an average target price of $138.07.

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.