Arista Networks, Inc. $ANET Shares Acquired by Ethic Inc.

Ethic Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,257 shares of the technology company’s stock after purchasing an additional 4,766 shares during the period. Ethic Inc.’s holdings in Arista Networks were worth $22,244,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cura Wealth Advisors LLC lifted its holdings in shares of Arista Networks by 3.1% during the second quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company’s stock worth $297,000 after purchasing an additional 52 shares during the period. Affinity Capital Advisors LLC increased its stake in Arista Networks by 1.4% in the 3rd quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company’s stock valued at $817,000 after buying an additional 53 shares during the period. Global Assets Advisory LLC increased its stake in Arista Networks by 0.9% in the 3rd quarter. Global Assets Advisory LLC now owns 6,352 shares of the technology company’s stock valued at $1,318,000 after buying an additional 57 shares during the period. Madison Wealth Partners Inc increased its stake in Arista Networks by 2.8% in the 2nd quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock valued at $370,000 after buying an additional 60 shares during the period. Finally, Richardson Financial Services Inc. raised its position in Arista Networks by 3.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,912 shares of the technology company’s stock worth $389,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $170.70 on Friday. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-year high of $217.41. The company has a market cap of $215.66 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The stock’s 50 day moving average price is $192.59 and its 200 day moving average price is $165.70.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.33 billion. Arista Networks had a return on equity of 32.20% and a net margin of 39.97%. Arista Networks’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities research analysts anticipate that Arista Networks, Inc. will post 3.85 EPS for the current fiscal year.

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.

Insider Activity at Arista Networks

In other Arista Networks news, Director Mark Templeton sold 5,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $165.85, for a total transaction of $829,250.00. Following the sale, the director directly owned 43,410 shares in the company, valued at approximately $7,199,548.50. The trade was a 10.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $180.91, for a total transaction of $3,135,713.03. Following the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $2,347,488.16. This trade represents a 57.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 2,380,998 shares of company stock worth $482,687,801. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Saturday. BNP Paribas Exane raised shares of Arista Networks to a “strong-buy” rating in a report on Wednesday, October 14th. TD Cowen dropped their price target on shares of Arista Networks from $250.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Bank of America reissued 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. Finally, Morgan Stanley restated an “overweight” rating and issued a $230.00 price objective (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 issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks has an average rating of “Buy” and an average target price of $240.24.

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.