Arista Networks, Inc. $ANET Shares Bought by Asset One Wealth Management LLC

Asset One Wealth Management LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,084 shares of the technology company’s stock after purchasing an additional 5,865 shares during the period. Arista Networks comprises approximately 0.7% of Asset One Wealth Management LLC’s portfolio, making the stock its 28th largest position. Asset One Wealth Management LLC’s holdings in Arista Networks were worth $8,568,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Arista Networks by 159.4% during the second quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after buying an additional 74,541,134 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Arista Networks by 34.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock worth $1,712,788,000 after purchasing an additional 2,497,275 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Arista Networks by 199.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock valued at $1,635,978,000 after buying an additional 6,409,612 shares in the last quarter. Deutsche Bank AG raised its stake in Arista Networks by 4.3% in the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after buying an additional 388,354 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Arista Networks by 5.9% in the 2nd quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock valued at $1,433,951,000 after buying an additional 470,451 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANET shares. Erste Group Bank upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $280.00 price objective on shares of Arista Networks in a research note on Wednesday. Bank of America reiterated a “buy” rating and set a $240.00 price target (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Wall Street Zen raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley reissued an “overweight” rating and set a $230.00 target price (up from $220.00) on shares of Arista Networks in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Buy” and a consensus target price of $240.24.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $170.70 on Friday. The stock has a fifty day moving average of $192.59 and a 200-day moving average of $165.70. Arista Networks, Inc. has a one year low of $114.52 and a one year high of $217.41. The company has a market capitalization of $215.29 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.61.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business earned $0.75 EPS. The company’s revenue was up 58.5% compared to the same quarter last year. As a group, research analysts forecast that Arista Networks, Inc. will post 3.83 EPS for the current fiscal year.

More Arista Networks News

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista reported third-quarter revenue of $3.66 billion, up 58.5% year over year and above estimates, while EPS of $1.20 also beat expectations. The company raised its outlook, citing demand for AI data-center networking, Ethernet adoption, and growth across hyperscale and enterprise customers. Read More.
• Positive Sentiment: Analyst support offers another tailwind: Melius Research initiated coverage with a “strong-buy” rating, while other recent reports cited buy ratings and bullish price targets. Read More.
• Neutral Sentiment: The recent selloff has left investors debating whether the pullback creates a buying opportunity. ANET has declined substantially over the past month despite its strong results, leaving sentiment divided. Read More.
• Negative Sentiment: Valuation and customer concentration remain risks: Arista’s premium forward earnings multiple leaves less room for disappointment, while reliance on a limited number of large customers could make growth more vulnerable to spending changes. Read More.
• Negative Sentiment: Shares have also faced pressure from a broader AI-infrastructure stock selloff and reported insider sales. Those sales included transactions under pre-arranged trading plans, but can still add to near-term investor caution. Read More.

Insider Activity

In related news, insider Kenneth Duda sold 26,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $185.42, for a total value of $4,820,920.00. Following the transaction, the insider owned 452,400 shares in the company, valued at approximately $83,884,008. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jayshree Ullal sold 573,509 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $208.13, for a total value of $119,364,428.17. Following the completion of the transaction, the chief executive officer directly owned 25,000 shares in the company, valued at approximately $5,203,250. This represents a 95.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,380,998 shares of company stock valued at $482,687,801. 2.70% of the stock is currently owned by insiders.

About Arista Networks

Arista Networks, Inc develops software-driven networking products for large data centers, cloud environments, AI workloads, and enterprise campuses. Its offerings include Ethernet switches and routers, along with software and services for managing, monitoring, and securing networks.

The company’s software portfolio includes its Extensible Operating System (EOS), which runs across its networking platforms, and CloudVision, a platform for network automation and management. Arista’s products are used by cloud providers, businesses, and other organizations to connect and manage computing infrastructure.

Founded in 2004 and headquartered in Santa Clara, California, Arista serves customers worldwide.