Arista Networks, Inc. $ANET Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in Arista Networks, Inc. (NYSE:ANET) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 291,073 shares of the technology company’s stock after purchasing an additional 5,815 shares during the period. PNC Financial Services Group Inc.’s holdings in Arista Networks were worth $29,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC grew its position in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. Solstein Capital LLC lifted its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares during the last quarter. Saudi Central Bank acquired a new position in Arista Networks in the first quarter worth $33,000. Costello Asset Management INC increased its stake in Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company’s stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. Finally, Hemington Wealth Management raised its holdings in shares of Arista Networks by 28.2% during the second quarter. Hemington Wealth Management now owns 459 shares of the technology company’s stock worth $46,000 after purchasing an additional 101 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 58,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $141.79, for a total value of $4,253,700.00. Following the transaction, the insider owned 12,976 shares in the company, valued at approximately $1,839,867.04. This trade represents a 69.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,009,040 shares of company stock worth $294,365,034 over the last three months. Corporate insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays reaffirmed an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Melius Research increased their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Wells Fargo & Company raised their price target on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.31.

Arista Networks Stock Performance

NYSE:ANET opened at $130.13 on Friday. The stock has a market cap of $163.87 billion, a price-to-earnings ratio of 51.18, a PEG ratio of 3.37 and a beta of 1.48. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The business has a fifty day moving average of $146.39 and a 200-day moving average of $121.11.

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

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.