International Assets Investment Management LLC Sells 3,243 Shares of Arista Networks, Inc. $ANET

International Assets Investment Management LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 17.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,804 shares of the technology company’s stock after selling 3,243 shares during the quarter. International Assets Investment Management LLC’s holdings in Arista Networks were worth $3,232,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. William Mack & Associates Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at $27,000. ABS Investment Management LLC acquired a new position in Arista Networks in the 2nd quarter worth about $29,000. ABS Direct Equity Fund LLC bought a new position in Arista Networks in the second quarter valued at about $29,000. Balance Wealth Partners LLC bought a new position in Arista Networks in the third quarter valued at about $35,000. Finally, Kelleher Financial Advisors bought a new position in Arista Networks in the second quarter valued at about $31,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Chantelle Breithaupt sold 1,224 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total value of $263,160.00. Following the sale, the chief financial officer directly owned 68,697 shares in the company, valued at $14,769,855. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 130,553 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $217.10, for a total value of $28,343,056.30. Following the completion of the sale, the chief executive officer owned 4,774,691 shares in the company, valued at $1,036,585,416.10. The trade was a 2.66% 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. In the last quarter, insiders have sold 2,380,998 shares of company stock valued at $482,687,801. Corporate insiders own 2.70% of the company’s stock.

Arista Networks Stock Up 7.2%

NYSE ANET opened at $170.70 on Friday. The company has a market capitalization of $215.66 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.71 and a beta of 1.61. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The stock has a fifty day simple moving average of $192.59 and a 200 day simple moving average of $165.70.

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

Arista Networks News Roundup

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.

Analysts Set New Price Targets

Several analysts have recently weighed in on ANET shares. Wall Street Zen upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Saturday. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Jefferies Financial Group set a $250.00 target price on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday. Three 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $240.24.

Arista Networks 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.