Chokshi & Queen Wealth Advisors Inc Takes $376,000 Position in Arista Networks, Inc. $ANET

Chokshi & Queen Wealth Advisors Inc acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,674 shares of the technology company’s stock, valued at approximately $376,000.

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

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,852,324. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,678,904 shares of company stock valued at $895,788,521. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ANET. Piper Sandler increased their price objective on Arista Networks from $89.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Barclays increased their target price on shares of Arista Networks from $151.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Erste Group Bank raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Arista Networks in a research report on Tuesday, October 14th. Finally, Rosenblatt Securities increased their target price on shares of Arista Networks from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $163.94.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $145.87 on Wednesday. The company has a market cap of $183.34 billion, a P/E ratio of 57.37, a P/E/G ratio of 3.05 and a beta of 1.47. The stock’s 50-day moving average is $142.38 and its 200-day moving average is $112.24. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $162.68.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. As a group, equities 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.