Conning Inc. Trims Position in Arista Networks, Inc. $ANET

Conning Inc. cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,584 shares of the technology company’s stock after selling 241 shares during the quarter. Conning Inc.’s holdings in Arista Networks were worth $674,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Eastern Bank lifted its stake in Arista Networks by 68.0% in the second quarter. Eastern Bank now owns 250,002 shares of the technology company’s stock worth $25,578,000 after acquiring an additional 101,190 shares during the period. Aberdeen Group plc grew its stake in Arista Networks by 4.7% in the second quarter. Aberdeen Group plc now owns 990,892 shares of the technology company’s stock valued at $101,378,000 after purchasing an additional 44,117 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Arista Networks by 8.2% in the 2nd quarter. PDS Planning Inc now owns 7,603 shares of the technology company’s stock valued at $778,000 after buying an additional 573 shares in the last quarter. Gunderson Capital Management Inc. purchased a new stake in Arista Networks during the second quarter valued at approximately $3,280,000. Finally, Costello Asset Management INC raised its stake in Arista Networks by 62.3% in the second quarter. Costello Asset Management INC now owns 737 shares of the technology company’s stock valued at $75,000 after buying an additional 283 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 2.4%

Shares of ANET stock opened at $154.51 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $162.68. The business’s 50 day moving average is $140.85 and its two-hundred day moving average is $108.89. The company has a market capitalization of $194.19 billion, a P/E ratio of 60.77, a P/E/G ratio of 3.21 and a beta of 1.47.

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. On average, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $136.22, for a total value of $243,175,176.30. Following the sale, the chief executive officer owned 5,698,074 shares in the company, valued at $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 6,678,904 shares of company stock worth $894,021,161 over the last quarter. Company insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ANET shares. Barclays upped their price target on shares of Arista Networks from $151.00 to $179.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Piper Sandler raised their target price on shares of Arista Networks from $89.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Needham & Company LLC upped their price target on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. William Blair reissued an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Nineteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.94.

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.