Harvest Portfolios Group Inc. Purchases Shares of 273,380 Arista Networks, Inc. $ANET

Harvest Portfolios Group Inc. acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 273,380 shares of the technology company’s stock, valued at approximately $27,970,000.

A number of other hedge funds have also recently made changes to their positions in ANET. Walkner Condon Financial Advisors LLC raised its position in Arista Networks by 0.7% in the second quarter. Walkner Condon Financial Advisors LLC now owns 18,439 shares of the technology company’s stock valued at $1,887,000 after purchasing an additional 126 shares during the period. Sustainable Insight Capital Management LLC grew its stake in shares of Arista Networks by 54.9% in the second quarter. Sustainable Insight Capital Management LLC now owns 5,402 shares of the technology company’s stock valued at $553,000 after buying an additional 1,914 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Arista Networks by 32.3% in the 2nd quarter. Malaga Cove Capital LLC now owns 12,015 shares of the technology company’s stock valued at $1,229,000 after buying an additional 2,931 shares during the period. Modera Wealth Management LLC lifted its stake in Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 7,273 shares of the technology company’s stock worth $744,000 after acquiring an additional 153 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in Arista Networks by 4.1% during the 2nd quarter. Twin Capital Management Inc. now owns 43,134 shares of the technology company’s stock valued at $4,413,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 4.6%

Shares of NYSE:ANET opened at $133.99 on Friday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The firm’s 50 day moving average price is $146.69 and its 200 day moving average price is $118.95. The stock has a market cap of $168.41 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 3.37 and a beta of 1.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the firm posted $2.40 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. Arista Networks has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research note on Thursday, September 25th. Erste Group Bank upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Wolfe Research increased their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Nineteen 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, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the transaction, the chief executive officer directly owned 5,383,207 shares in the company, valued at $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,852,324. The trade was a 69.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,009,040 shares of company stock valued at $294,365,034 in the last ninety days. Insiders own 3.39% of the company’s stock.

Arista Networks 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.