Mirae Asset Global Investments Co. Ltd. Trims Position in Arista Networks, Inc. $ANET

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 17.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 172,811 shares of the technology company’s stock after selling 35,271 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Arista Networks were worth $17,680,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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 valued at $7,581,955,000 after buying an additional 1,771,982 shares during the period. Alliancebernstein L.P. increased its stake 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 valued at $1,778,880,000 after buying an additional 1,889,198 shares during the period. Nuveen LLC purchased a new stake in Arista Networks in the first quarter worth $933,626,000. Northern Trust Corp grew its stake in Arista Networks by 3.7% in 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. grew its stake 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 worth $740,126,000 after purchasing an additional 2,594,184 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ANET shares. Melius Research upped their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Barclays upped their price target on Arista Networks from $151.00 to $179.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Rosenblatt Securities upped their price target on Arista Networks from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Finally, Citigroup upped their price target on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Arista Networks Trading Up 0.7%

NYSE ANET opened at $145.51 on Friday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $156.32. The stock has a market cap of $182.88 billion, a P/E ratio of 57.23, a P/E/G ratio of 3.03 and a beta of 1.47. The stock’s fifty day moving average price is $137.53 and its 200-day moving average price is $106.51.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS 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 firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. Arista Networks has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jayshree Ullal sold 1,785,165 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 5,698,074 shares of the company’s stock, valued at $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 6,678,904 shares of company stock worth $894,021,161 over the last 90 days. Corporate insiders own 3.39% of the company’s stock.

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.