Arista Networks, Inc. $ANET Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 141.9% in the second quarter, HoldingsChannel reports. The firm owned 83,496 shares of the technology company’s stock after acquiring an additional 48,980 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Arista Networks were worth $8,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 1.8% during the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company’s stock worth $7,581,955,000 after purchasing an additional 1,771,982 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Arista Networks by 9.0% during the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock worth $1,778,880,000 after purchasing an additional 1,889,198 shares during the period. Nuveen LLC acquired a new stake in shares of Arista Networks during the first quarter worth about $933,626,000. Northern Trust Corp lifted its holdings in shares of Arista Networks by 3.7% during the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company’s stock worth $799,244,000 after purchasing an additional 372,677 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Arista Networks by 37.3% in the first 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. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $146.40 on Tuesday. The company has a market cap of $184.01 billion, a price-to-earnings ratio of 57.58, a PEG ratio of 2.98 and a beta of 1.47. The stock has a 50 day simple moving average of $142.29 and a 200-day simple moving average of $112.00. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $162.68.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. Analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,839,867.04. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total value of $1,179,920.00. Following the sale, the director owned 41,784 shares of the company’s stock, valued at $6,162,722.16. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,622,904 shares of company stock worth $887,794,521. 3.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Melius Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 12th. UBS Group boosted their price target on Arista Networks from $115.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Nineteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.