Arista Networks, Inc. $ANET Shares Bought by Asset One Wealth Management LLC

Asset One Wealth Management LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 16.2% in the third quarter, HoldingsChannel reports. The fund owned 42,084 shares of the technology company’s stock after acquiring an additional 5,865 shares during the period. Arista Networks accounts for approximately 0.7% of Asset One Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Asset One Wealth Management LLC’s holdings in Arista Networks were worth $8,568,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ANET. Cura Wealth Advisors LLC boosted its stake in Arista Networks by 3.1% in the 2nd 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 grew its stake in shares of Arista Networks by 1.4% during the third quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company’s stock valued at $817,000 after acquiring an additional 53 shares in the last quarter. Global Assets Advisory LLC lifted its holdings 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 acquiring an additional 57 shares during the last quarter. Madison Wealth Partners Inc lifted its position in shares of Arista Networks by 2.8% during the 2nd quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock worth $370,000 after purchasing an additional 60 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its holdings 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 acquiring an additional 60 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 130,553 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $217.10, for a total transaction of $28,343,056.30. Following the transaction, the chief executive officer directly owned 4,774,691 shares in the company, valued at $1,036,585,416.10. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $180.91, for a total transaction of $3,135,713.03. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $2,347,488.16. This trade represents a 57.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,380,998 shares of company stock valued at $482,687,801 over the last 90 days. Insiders own 2.70% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $170.70 on Friday. The firm has a market cap of $215.29 billion, a PE ratio of 45.89, a PEG ratio of 1.91 and a beta of 1.61. Arista Networks, Inc. has a one year low of $114.52 and a one year high of $217.41. The firm’s 50 day moving average price is $192.59 and its 200-day moving average price is $165.70.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the business posted $0.75 EPS. Arista Networks’s revenue was up 58.5% compared to the same quarter last year. Equities research analysts predict that Arista Networks, Inc. will post 3.83 EPS for the current fiscal year.

Key Headlines Impacting Arista Networks

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.

Analyst Ratings Changes

ANET has been the topic of a number of analyst reports. Sanford C. Bernstein assumed coverage on shares of Arista Networks in a report on Wednesday, September 30th. They set an “outperform” rating and a $250.00 price objective on the stock. Piper Sandler increased their price target on Arista Networks from $240.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group set a $250.00 target price on Arista Networks in a research note on Wednesday, August 5th. BNP Paribas Exane raised shares of Arista Networks to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three 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. Based on data from MarketBeat.com, the company presently has a consensus 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.