Ashton Thomas Private Wealth LLC Reduces Stock Position in Arista Networks, Inc. $ANET

Ashton Thomas Private Wealth LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 50.9% in the second quarter, HoldingsChannel reports. The firm owned 17,460 shares of the technology company’s stock after selling 18,066 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Arista Networks were worth $1,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC increased its position in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares in the last quarter. Solstein Capital LLC grew its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the period. Cloud Capital Management LLC purchased a new stake in Arista Networks in the 1st quarter valued at about $30,000. Saudi Central Bank purchased a new stake in Arista Networks in the 1st quarter valued at about $33,000. Finally, Costello Asset Management INC grew its holdings in Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company’s stock valued at $35,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ANET. Erste Group Bank upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Evercore ISI lifted their price target on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a report on Thursday, September 25th. Wells Fargo & Company lifted their price target on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Citigroup lifted their price target on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.94.

Arista Networks Price Performance

NYSE ANET opened at $156.93 on Wednesday. The firm has a market capitalization of $197.24 billion, a P/E ratio of 61.72, a P/E/G ratio of 3.26 and a beta of 1.47. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $162.68. The business’s 50-day simple moving average is $144.09 and its 200-day simple moving average is $115.37.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company’s revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $136.51, for a total value of $4,095,300.00. Following the transaction, the senior vice president directly owned 12,976 shares in the company, valued at $1,771,353.76. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,213,220 shares of company stock valued at $722,406,000. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.