Arista Networks, Inc. $ANET Stock: Illinois Municipal Retirement Fund Reduces Holdings

Illinois Municipal Retirement Fund lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,111 shares of the technology company’s stock after selling 2,759 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Arista Networks were worth $8,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Main Street Group LTD bought a new stake in Arista Networks in the first quarter worth approximately $26,000. William Mack & Associates Inc. acquired a new position in shares of Arista Networks during the 3rd quarter worth $27,000. ABS Investment Management LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth $29,000. ABS Direct Equity Fund LLC bought a new position in shares of Arista Networks during the 2nd quarter valued at $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Arista Networks during the 2nd quarter valued at $31,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 5.1%

Shares of ANET stock opened at $206.67 on Friday. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $217.41. The business’s 50 day moving average is $192.77 and its two-hundred day moving average is $166.84. The company has a market cap of $261.11 billion, a PE ratio of 54.63, a price-to-earnings-growth ratio of 1.75 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 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Arista Networks had a net margin of 39.97% and a return on equity of 32.20%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 58.5% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 4.01 EPS for the current fiscal year.

Key Stories Impacting Arista Networks

These are some of the ANET stories that stood out recently:

• Positive Sentiment: Analyst support is constructive: Piper Sandler’s James Fish called Arista a top pick, while KeyCorp raised earnings estimates and maintained an Overweight rating with a $250 target. A separate analyst-target survey indicated potential upside, though such targets are not guarantees. Piper Sandler’s Arista outlook KeyCorp estimate update
• Neutral Sentiment: Coverage describes a rebound in AI and cloud-related stocks as a tailwind for Arista, but notes the rally is facing resistance amid volatile trading. Arista Q3 beat and market reaction
• Negative Sentiment: Valuation is a key concern after the strong run: one analysis asks whether the stock is overvalued despite improved guidance. Reports also flag substantial co-founder share sales; these may not necessarily signal a change in business outlook, but could weigh on sentiment. Arista valuation analysis Co-founder stock sales

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $230.00 price objective (up from $220.00) on shares of Arista Networks in a research note on Wednesday, November 4th. Deutsche Bank began coverage on shares of Arista Networks in a research report on Monday, August 31st. They set a “buy” rating and a $220.00 target price on the stock. BNP Paribas Exane upgraded Arista Networks to a “strong-buy” rating in a report on Wednesday, October 14th. Melius Research set a $305.00 price target on Arista Networks in a research report on Wednesday, November 4th. Finally, Citigroup reiterated a “buy” rating and set a $248.00 price target (up from $215.00) on shares of Arista Networks in a research note on Thursday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $240.24.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 460,374 shares of the firm’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $212.09, for a total value of $97,640,721.66. Following the transaction, the chief executive officer directly owned 4,811,207 shares in the company, valued at approximately $1,020,408,892.63. This trade represents a 8.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $185.42, for a total transaction of $4,820,920.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. 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 2,067,489 shares of company stock worth $406,340,373. 2.70% of the stock is owned by insiders.

Arista Networks 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.