Arista Networks, Inc. $ANET Stock Sold by Verus Capital Partners LLC

Verus Capital Partners LLC reduced its holdings in Arista Networks, Inc. (NYSE:ANET) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,633 shares of the technology company’s stock after selling 9,593 shares during the quarter. Verus Capital Partners LLC’s holdings in Arista Networks were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cura Wealth Advisors LLC grew its position 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 valued at $297,000 after buying an additional 52 shares in the last quarter. Affinity Capital Advisors LLC increased its position 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 valued at $817,000 after purchasing an additional 53 shares during the period. Global Assets Advisory LLC lifted its holdings in shares of Arista Networks by 0.9% in the third quarter. Global Assets Advisory LLC now owns 6,352 shares of the technology company’s stock valued at $1,318,000 after buying an additional 57 shares during the period. Madison Wealth Partners Inc boosted its stake in Arista Networks by 2.8% during the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock valued at $370,000 after buying an additional 60 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Arista Networks by 3.2% during the third 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 period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ANET. Truist Financial lifted their price objective on shares of Arista Networks from $234.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Melius Research set a $305.00 target price on Arista Networks in a report on Wednesday. Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a research note on Wednesday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Arista Networks in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $230.00 target price (up from $220.00) on shares of Arista Networks in a report on Wednesday. Three equities research 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, Arista Networks currently has a consensus rating of “Buy” and an average price target of $240.24.

Arista Networks Trading Down 0.1%

ANET opened at $170.70 on Monday. The stock has a fifty day moving average price of $192.59 and a 200 day moving average price of $165.70. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $217.41. The stock has a market cap of $215.66 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.59 and a beta of 1.61.

Arista Networks (NYSE:ANET) last posted its quarterly 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. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.33 billion. Arista Networks had a return on equity of 32.20% and a net margin of 39.97%. The business’s quarterly revenue was up 58.5% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 3.85 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In related news, 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 completion of the sale, the chief executive officer directly owned 25,000 shares in the company, valued at approximately $5,203,250. The trade was a 95.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 26,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 452,400 shares in the company, valued at approximately $83,884,008. This trade represents a 5.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,380,998 shares of company stock worth $482,687,801 in the last 90 days. 2.70% of the stock is owned by insiders.

Trending Headlines about 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.

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.