Pinnacle Associates Ltd. Purchases 7,924 Shares of Arista Networks, Inc. $ANET

Pinnacle Associates Ltd. increased its position in Arista Networks, Inc. (NYSE:ANET) by 160.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,877 shares of the technology company’s stock after purchasing an additional 7,924 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Arista Networks were worth $1,317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new position in Arista Networks in the 1st quarter valued at about $933,626,000. AQR Capital Management LLC raised its holdings in Arista Networks by 153.8% in the 1st quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock valued at $584,119,000 after acquiring an additional 4,678,372 shares during the period. Nordea Investment Management AB raised its holdings in Arista Networks by 193.3% in the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock valued at $721,342,000 after acquiring an additional 4,656,021 shares during the period. Goldman Sachs Group Inc. raised its holdings in Arista Networks by 37.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company’s stock valued at $740,126,000 after acquiring an additional 2,594,184 shares during the period. Finally, Amundi raised its holdings in Arista Networks by 35.3% in the 1st quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after acquiring an additional 2,240,045 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $148.42, for a total value of $8,608,360.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $136.51, for a total transaction of $4,095,300.00. Following the completion of the sale, the senior vice president owned 12,976 shares in the company, valued at $1,771,353.76. This represents a 69.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,325,040 shares of company stock valued at $611,632,257 over the last three months. 3.39% of the stock is owned by insiders.

Arista Networks Stock Down 0.5%

Shares of NYSE:ANET opened at $157.64 on Monday. The company’s 50 day moving average price is $145.72 and its two-hundred day moving average price is $117.50. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market cap of $198.13 billion, a PE ratio of 62.00, a PEG ratio of 3.37 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Melius Research increased their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 12th. Citigroup increased their price target on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Barclays increased their price target on shares of Arista Networks from $151.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Wolfe Research increased their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Erste Group Bank upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.