Calamos Advisors LLC Sells 12,486 Shares of Arista Networks, Inc. $ANET

Calamos Advisors LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 295,016 shares of the technology company’s stock after selling 12,486 shares during the period. Calamos Advisors LLC’s holdings in Arista Networks were worth $60,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. Alta Advisers Ltd raised its position in shares of Arista Networks by 84.1% during the 3rd quarter. Alta Advisers Ltd now owns 7,436 shares of the technology company’s stock valued at $1,514,000 after buying an additional 3,397 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its holdings in Arista Networks by 7.5% during the third quarter. Ullmann Wealth Partners Group LLC now owns 2,659 shares of the technology company’s stock worth $541,000 after buying an additional 185 shares during the period. Legacy Financial Independent Advisors LLC purchased a new position in Arista Networks in the third quarter valued at about $1,315,000. Kestra Advisory Services LLC raised its stake in shares of Arista Networks by 12.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 110,831 shares of the technology company’s stock worth $22,564,000 after acquiring an additional 12,029 shares in the last quarter. Finally, Claro Advisors Inc. boosted its position in shares of Arista Networks by 36.0% in the 3rd quarter. Claro Advisors Inc. now owns 3,269 shares of the technology company’s stock worth $666,000 after purchasing an additional 866 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 7.2%

ANET stock traded up $11.54 during trading on Friday, reaching $170.70. 11,977,293 shares of the stock were exchanged, compared to its average volume of 6,207,998. The business has a 50 day moving average price of $192.59 and a 200-day moving average price of $165.70. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $217.41. The firm has a market capitalization of $215.29 billion, a price-to-earnings ratio of 45.89, a P/E/G ratio of 1.91 and a beta of 1.61.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.33 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. The company’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 3.83 EPS for the current year.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Arista Networks in a report on Wednesday, August 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $245.00 price target (down from $255.00) on shares of Arista Networks in a report on Wednesday. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Arista Networks in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $240.24.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $185.42, for a total transaction of $4,820,920.00. Following the completion of the transaction, the insider owned 452,400 shares of the company’s stock, valued at $83,884,008. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jayshree Ullal sold 573,509 shares of Arista Networks stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $208.13, for a total transaction of $119,364,428.17. Following the sale, the chief executive officer owned 25,000 shares of the company’s stock, valued at approximately $5,203,250. This represents a 95.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,380,998 shares of company stock valued at $482,687,801 over the last 90 days. 2.70% of the stock is owned by insiders.

Key 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.

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.