Arista Networks, Inc. $ANET Stock Position Cut by Calamos Wealth Management LLC

Calamos Wealth Management LLC decreased its position in Arista Networks, Inc. (NYSE:ANET) by 29.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,858 shares of the technology company’s stock after selling 28,758 shares during the quarter. Calamos Wealth Management LLC’s holdings in Arista Networks were worth $13,815,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cura Wealth Advisors LLC grew its holdings in shares of Arista Networks by 3.1% during the second quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company’s stock worth $297,000 after buying an additional 52 shares in the last quarter. Affinity Capital Advisors LLC grew its stake in shares of Arista Networks by 1.4% during the 3rd quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company’s stock worth $817,000 after acquiring an additional 53 shares in the last quarter. Global Assets Advisory LLC grew its stake in shares of Arista Networks by 0.9% during the 3rd quarter. Global Assets Advisory LLC now owns 6,352 shares of the technology company’s stock worth $1,318,000 after acquiring an additional 57 shares in the last quarter. Madison Wealth Partners Inc raised its holdings in shares of Arista Networks by 2.8% in the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock valued at $370,000 after purchasing an additional 60 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its holdings in shares of Arista Networks by 3.2% in the third quarter. Richardson Financial Services Inc. now owns 1,912 shares of the technology company’s stock valued at $389,000 after purchasing an additional 60 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks News Roundup

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.

Arista Networks Stock Up 7.2%

Shares of NYSE ANET traded up $11.54 during trading hours on Friday, hitting $170.70. The company had a trading volume of 11,977,293 shares, compared to its average volume of 6,207,998. The stock has a market capitalization of $215.29 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.61. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-year high of $217.41. The firm’s 50 day moving average is $192.59 and its 200-day moving average is $165.70.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping 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 the consensus estimate of $3.33 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 58.5% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ANET shares. Morgan Stanley reissued an “overweight” rating and issued a $230.00 price objective (up from $220.00) on shares of Arista Networks in a research report on Wednesday. Weiss Ratings downgraded shares of Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wells Fargo & Company reissued an “overweight” rating and set a $245.00 price target (down from $255.00) on shares of Arista Networks in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Arista Networks 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $240.24.

Insider Activity

In other news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $185.42, for a total value of $4,820,920.00. Following the completion of the transaction, the insider owned 452,400 shares of the company’s stock, valued at $83,884,008. This trade represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jayshree Ullal sold 573,509 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total value of $119,364,428.17. Following the transaction, the chief executive officer directly owned 25,000 shares in the company, valued at approximately $5,203,250. This trade represents a 95.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,380,998 shares of company stock valued at $482,687,801 in the last quarter. Company insiders own 2.70% of the company’s stock.

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.