Eastern Bank Grows Position in Arista Networks, Inc. $ANET

Eastern Bank increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 68.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 250,002 shares of the technology company’s stock after buying an additional 101,190 shares during the period. Eastern Bank’s holdings in Arista Networks were worth $25,578,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANET. Nuveen LLC purchased a new stake in shares of Arista Networks during the first quarter worth approximately $933,626,000. AQR Capital Management LLC increased its stake in shares of Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock worth $584,119,000 after buying an additional 4,678,372 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Arista Networks by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company’s stock valued at $740,126,000 after purchasing an additional 2,594,184 shares in the last quarter. Amundi boosted its holdings in Arista Networks by 35.3% in the first quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after purchasing an additional 2,240,045 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total transaction of $1,179,920.00. Following the completion of the sale, the director owned 41,784 shares in the company, valued at $6,162,722.16. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total value of $4,253,700.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,839,867.04. This trade represents a 69.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,678,904 shares of company stock worth $894,021,161 over the last 90 days. 3.39% of the stock is currently owned by insiders.

Arista Networks Trading Down 2.4%

Shares of NYSE ANET opened at $154.51 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $162.68. The stock has a 50 day moving average of $140.85 and a two-hundred day moving average of $108.70. The stock has a market cap of $194.19 billion, a P/E ratio of 60.77, a P/E/G ratio of 3.30 and a beta of 1.47.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ANET. KeyCorp upped their price target on Arista Networks from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Citigroup upped 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. Wells Fargo & Company upped 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, Evercore ISI upped 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. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.94.

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.