Arista Networks, Inc. $ANET Stock: Kestra Advisory Services LLC Grows Stake

Kestra Advisory Services LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 12.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 110,831 shares of the technology company’s stock after buying an additional 12,029 shares during the quarter. Kestra Advisory Services LLC’s holdings in Arista Networks were worth $22,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ANET. State Street Corp lifted its stake in Arista Networks by 159.4% during the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock valued at $20,606,975,000 after acquiring an additional 74,541,134 shares during the period. Massachusetts Financial Services Co. MA grew 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 acquiring an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Arista Networks by 199.0% in the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after acquiring an additional 6,409,612 shares during the period. Deutsche Bank AG raised its holdings in shares of Arista Networks by 4.3% during 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 purchasing an additional 388,354 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Arista Networks by 5.9% during the second quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock valued at $1,433,951,000 after purchasing an additional 470,451 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 573,509 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total value of $119,364,428.17. Following the transaction, the chief executive officer directly owned 25,000 shares of the company’s stock, valued at approximately $5,203,250. This trade represents a 95.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Thursday, August 20th. The shares were 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 $83,884,008. This trade represents a 5.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,380,998 shares of company stock valued at $482,687,801. 2.70% of the stock is owned by company insiders.

Arista Networks Trading Up 7.2%

Shares of ANET stock opened at $170.70 on Friday. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $217.41. The stock has a market cap of $215.66 billion, a P/E ratio of 45.89, a P/E/G ratio of 1.71 and a beta of 1.61. The company has a 50 day simple moving average of $192.59 and a two-hundred day simple moving average of $165.70.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.33 billion. Arista Networks had a net margin of 39.97% and a return on equity of 32.20%. The company’s quarterly revenue was up 58.5% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 3.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ANET shares. BNP Paribas Exane upgraded shares of Arista Networks to a “strong-buy” rating in a research report on Wednesday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $280.00 target price on shares of Arista Networks in a research report on Wednesday. Melius Research set a $305.00 target price on shares of Arista Networks in a research note on Wednesday. Weiss Ratings cut Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Sanford C. Bernstein began coverage on Arista Networks in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $250.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $240.24.

Arista Networks News Summary

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.

Arista Networks Company Profile

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.