Illinois Municipal Retirement Fund Sells 134,824 Shares of Arista Networks, Inc. $ANET

Illinois Municipal Retirement Fund decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 70.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,474 shares of the technology company’s stock after selling 134,824 shares during the period. Illinois Municipal Retirement Fund’s holdings in Arista Networks were worth $5,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after acquiring an additional 5,955 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Arista Networks in the fourth quarter valued at about $202,000. Bison Wealth LLC acquired a new stake in shares of Arista Networks during the 4th quarter worth about $251,000. Alps Advisors Inc. lifted its stake in shares of Arista Networks by 7.3% during the 1st quarter. Alps Advisors Inc. now owns 4,225 shares of the technology company’s stock worth $327,000 after buying an additional 289 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Arista Networks by 6.6% during the 1st quarter. Stephens Inc. AR now owns 12,258 shares of the technology company’s stock worth $950,000 after buying an additional 755 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 1.7%

Shares of ANET stock opened at $134.88 on Wednesday. The firm has a market capitalization of $169.85 billion, a P/E ratio of 53.05, a P/E/G ratio of 3.37 and a beta of 1.48. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock’s fifty day simple moving average is $146.66 and its 200 day simple moving average is $120.95.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Arista Networks has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $142.75, for a total value of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,852,324. This represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the sale, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at $799,567,735.71. This represents a 18.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,009,040 shares of company stock valued at $294,365,034. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a report on Thursday, September 25th. Morgan Stanley set a $171.00 price target on Arista Networks and gave the company an “overweight” rating in a research note on Friday, October 10th. Piper Sandler reissued a “neutral” rating and set a $145.00 target price (up previously from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. Finally, BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Arista Networks 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.