Arista Networks, Inc. $ANET Shares Sold by Calamos Wealth Management LLC

Calamos Wealth Management LLC decreased its position in shares of 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 period. Calamos Wealth Management LLC’s holdings in Arista Networks were worth $13,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ANET. William Mack & Associates Inc. acquired a new position in shares of Arista Networks in the third quarter valued at about $27,000. ABS Investment Management LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth approximately $29,000. ABS Direct Equity Fund LLC bought a new position in shares of Arista Networks during the second quarter worth approximately $29,000. Balance Wealth Partners LLC bought a new position in shares of Arista Networks during the third quarter worth approximately $35,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Arista Networks in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

More Arista Networks News

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 Performance

Shares of NYSE ANET traded up $11.54 during trading hours on Friday, hitting $170.70. 11,977,293 shares of the stock were exchanged, compared to its average volume of 6,207,998. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-year high of $217.41. The company has a market cap of $215.29 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.61. The company’s fifty day simple moving average is $192.59 and its two-hundred day simple moving average is $165.70.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The business 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 30.65% and a net margin of 38.37%. Arista Networks’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 3.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $185.42, for a total transaction of $4,820,920.00. Following the sale, the insider directly owned 452,400 shares of the company’s stock, valued at approximately $83,884,008. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 dated 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 sale, the chief executive officer owned 25,000 shares in the company, valued at approximately $5,203,250. This trade represents a 95.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days. Corporate insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Arista Networks in a research note on Wednesday. Piper Sandler raised their price objective on Arista Networks from $240.00 to $261.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $291.00 price objective (up from $259.00) on shares of Arista Networks in a report on Wednesday. Jefferies Financial Group set a $250.00 target price on Arista Networks in a research report on Wednesday, August 5th. Finally, Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $240.24.

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.