Zevenbergen Capital Investments LLC Decreases Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Arista Networks by 3.0%, selling 7,700 shares, while the company's holdings are now valued at approximately $25.1 million.
• Several analysts have raised their price targets for Arista Networks, with Barclays setting a target of $179 and Wells Fargo at $175, indicating a strong bullish sentiment on the stock.
• Insider trading activity has been notable, with Director Charles H. Giancarlo selling 8,000 shares and CEO Jayshree Ullal selling over 1.2 million shares, each indicating a decrease in their respective holdings.

Zevenbergen Capital Investments LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 245,400 shares of the technology company's stock after selling 7,700 shares during the quarter. Zevenbergen Capital Investments LLC's holdings in Arista Networks were worth $25,107,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ANET shares. Redburn Atlantic started coverage on shares of Arista Networks in a report on Wednesday, May 28th. They set a "buy" rating and a $112.00 price objective on the stock. Barclays upped their price objective on shares of Arista Networks from $151.00 to $179.00 and gave the company an "overweight" rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Friday. Wolfe Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company an "outperform" rating in a report on Friday. Finally, Melius Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company a "buy" rating in a report on Friday. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $157.56.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $117.01, for a total transaction of $936,080.00. Following the sale, the director owned 57,784 shares of the company's stock, valued at $6,761,305.84. This trade represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 1,247,688 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at $799,567,735.71. The trade was a 18.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,582,614 shares of company stock valued at $980,712,097 in the last 90 days. 3.39% of the stock is currently owned by company insiders.

Arista Networks Trading Down 8.9%

Shares of NYSE:ANET opened at $139.35 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $156.32. The company's 50 day moving average is $126.85 and its 200 day moving average is $100.21. The company has a market cap of $175.14 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 3.60 and a beta of 1.50.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly 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 company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company earned $0.53 EPS. Arista Networks's quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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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