Arista Networks, Inc. $ANET Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 18.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,395 shares of the technology company’s stock after selling 3,038 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Arista Networks were worth $1,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Saudi Central Bank acquired a new position in Arista Networks in the first quarter valued at $33,000. REAP Financial Group LLC increased its position in shares of Arista Networks by 108.0% during the second 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. Costello Asset Management INC lifted its holdings in shares of 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 purchasing an additional 154 shares during the last quarter. eCIO Inc. purchased a new stake in shares of Arista Networks in the 1st quarter valued at about $36,000. Finally, Solstein Capital LLC boosted its position in shares of 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 purchasing an additional 316 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 0.6%

Shares of NYSE:ANET opened at $131.13 on Friday. The company has a market cap of $165.13 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 3.37 and a beta of 1.48. The firm’s 50-day simple moving average is $146.16 and its 200-day simple moving average is $121.77. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. UBS Group upped their price target on shares of Arista Networks from $115.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Melius Research lifted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arista Networks in a report on Tuesday. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $164.31.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $157.12, for a total value of $1,256,960.00. Following the completion of the transaction, the director owned 33,784 shares in the company, valued at $5,308,142.08. This trade represents a 19.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. This represents a 18.82% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,009,040 shares of company stock worth $294,365,034. Corporate insiders own 3.39% of the company’s stock.

About Arista Networks

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.