Arista Networks, Inc. $ANET Stock: International Assets Investment Management LLC Decreases Holdings

International Assets Investment Management LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 17.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,804 shares of the technology company’s stock after selling 3,243 shares during the quarter. International Assets Investment Management LLC’s holdings in Arista Networks were worth $3,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Group LTD bought a new stake in shares of Arista Networks during the first quarter worth approximately $26,000. William Mack & Associates Inc. acquired a new position in shares of Arista Networks in the third quarter valued at approximately $27,000. ABS Investment Management LLC acquired a new position in shares of Arista Networks in the second quarter valued at approximately $29,000. ABS Direct Equity Fund LLC bought a new position in shares of Arista Networks during the second quarter worth approximately $29,000. Finally, Kelleher Financial Advisors bought a new position in shares of Arista Networks during the second quarter worth approximately $31,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 7.2%

ANET stock opened at $170.70 on Friday. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $217.41. The business has a 50-day simple moving average of $192.59 and a 200 day simple moving average of $165.70. 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.

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

Analyst Ratings Changes

Several analysts recently weighed in on ANET shares. Piper Sandler lifted their price target on Arista Networks from $240.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen reduced their target price on shares of Arista Networks from $250.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Sanford C. Bernstein began coverage on shares of Arista Networks in a research report on Wednesday, September 30th. They set an “outperform” rating and a $250.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $280.00 target price on shares of Arista Networks in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $250.00 to $270.00 and gave the stock an “overweight” rating in a 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $240.24.

Insider Activity at Arista Networks

In other Arista Networks news, Director Mark B. Templeton sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 43,410 shares in the company, valued at $7,199,548.50. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $3,135,713.03. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at $2,347,488.16. The trade was a 57.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,380,998 shares of company stock worth $482,687,801 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

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 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.