Arista Networks, Inc. $ANET Holdings Raised by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 14.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 47,850 shares of the technology company’s stock after buying an additional 6,090 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Arista Networks were worth $9,707,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. State Street Corp raised its holdings in Arista Networks by 159.4% in the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock valued at $20,606,975,000 after acquiring an additional 74,541,134 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Arista Networks by 34.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock valued at $1,712,788,000 after acquiring an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Arista Networks by 199.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after purchasing an additional 6,409,612 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after purchasing an additional 388,354 shares in the last quarter. Finally, Amundi grew its holdings in shares of Arista Networks by 5.7% during the 1st quarter. Amundi now owns 9,064,443 shares of the technology company’s stock worth $1,112,932,000 after purchasing an additional 491,173 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

More Arista Networks News

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista reported third-quarter revenue of $3.66 billion, up 58.5% year over year and above estimates, while EPS of $1.20 also beat expectations. The company raised its outlook, citing demand for AI data-center networking, Ethernet adoption, and growth across hyperscale and enterprise customers. Read More.
• Positive Sentiment: Analyst support offers another tailwind: Melius Research initiated coverage with a “strong-buy” rating, while other recent reports cited buy ratings and bullish price targets. Read More.
• Neutral Sentiment: The recent selloff has left investors debating whether the pullback creates a buying opportunity. ANET has declined substantially over the past month despite its strong results, leaving sentiment divided. Read More.
• Negative Sentiment: Valuation and customer concentration remain risks: Arista’s premium forward earnings multiple leaves less room for disappointment, while reliance on a limited number of large customers could make growth more vulnerable to spending changes. Read More.
• Negative Sentiment: Shares have also faced pressure from a broader AI-infrastructure stock selloff and reported insider sales. Those sales included transactions under pre-arranged trading plans, but can still add to near-term investor caution. Read More.

Insider Activity

In related news, CFO Chantelle Breithaupt sold 1,224 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total transaction of $263,160.00. Following the sale, the chief financial officer owned 68,697 shares of the company’s stock, valued at $14,769,855. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $180.91, for a total value of $3,135,713.03. Following the sale, the insider directly owned 12,976 shares in the company, valued at approximately $2,347,488.16. This trade represents a 57.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,380,998 shares of company stock valued at $482,687,801. 2.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup restated a “buy” rating and issued a $248.00 price target (up from $215.00) on shares of Arista Networks in a research report on Thursday, October 8th. Weiss Ratings cut shares of Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday. KeyCorp reiterated an “overweight” rating and set a $250.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Melius Research set a $305.00 price objective on shares of Arista Networks in a research note on Wednesday. Finally, Erste Group Bank raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Buy” and a consensus target price of $240.24.

Arista Networks Trading Down 0.1%

Shares of Arista Networks stock opened at $170.70 on Monday. The firm’s 50 day moving average is $192.59 and its 200 day moving average is $165.70. The firm has a market capitalization of $215.66 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $217.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. Arista Networks had a net margin of 39.97% and a return on equity of 32.20%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue was up 58.5% compared to the same quarter last year. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.85 earnings per share for the current year.

Arista Networks Company Profile

Arista Networks, Inc develops software-driven networking products for large data centers, cloud environments, AI workloads, and enterprise campuses. Its offerings include Ethernet switches and routers, along with software and services for managing, monitoring, and securing networks.

The company’s software portfolio includes its Extensible Operating System (EOS), which runs across its networking platforms, and CloudVision, a platform for network automation and management. Arista’s products are used by cloud providers, businesses, and other organizations to connect and manage computing infrastructure.

Founded in 2004 and headquartered in Santa Clara, California, Arista serves customers worldwide.