DAVENPORT & Co LLC Grows Stake in Arista Networks, Inc. $ANET

DAVENPORT & Co LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 13.5% during the second quarter, HoldingsChannel reports. The fund owned 34,286 shares of the technology company’s stock after purchasing an additional 4,090 shares during the period. DAVENPORT & Co LLC’s holdings in Arista Networks were worth $3,508,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HighMark Wealth Management LLC increased its holdings in shares of Arista Networks by 179.7% in the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock valued at $28,000 after acquiring an additional 230 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Arista Networks in the 1st quarter valued at about $30,000. Saudi Central Bank acquired a new stake in shares of Arista Networks in the 1st quarter valued at about $33,000. Tradewinds Capital Management LLC boosted its position in shares of Arista Networks by 45.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company’s stock valued at $35,000 after purchasing an additional 143 shares during the period. Finally, Costello Asset Management INC boosted its position in shares of Arista Networks by 51.3% in the 1st 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 period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANET. JPMorgan Chase & Co. upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Evercore ISI upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. The Goldman Sachs Group upped their target price on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wells Fargo & Company upped their target price on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, KeyCorp upped their target price on Arista Networks from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total transaction of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares of the company’s stock, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 6,678,904 shares of company stock worth $894,021,161. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Trading Up 8.3%

Arista Networks stock opened at $157.37 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $158.51. The stock has a 50 day moving average of $139.41 and a two-hundred day moving average of $107.74. The stock has a market capitalization of $197.79 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.03 and a beta of 1.47.

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

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.