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

Calamos Advisors LLC lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 295,016 shares of the technology company’s stock after selling 12,486 shares during the quarter. Calamos Advisors LLC’s holdings in Arista Networks were worth $60,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. State Street Corp increased its stake in Arista Networks by 159.4% during the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after buying an additional 74,541,134 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Arista Networks by 34.6% in 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 buying an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Arista Networks by 199.0% in the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after acquiring an additional 6,409,612 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Arista Networks by 4.3% in the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after acquiring an additional 388,354 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Arista Networks by 5.9% in the second quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock worth $1,433,951,000 after acquiring an additional 470,451 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 452,400 shares in the company, valued at approximately $83,884,008. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 25,000 shares in the company, valued at $5,203,250. This trade represents a 95.82% decrease in their ownership of the stock. 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 ninety days, insiders sold 2,380,998 shares of company stock valued at $482,687,801. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $11.54 during trading hours on Friday, reaching $170.70. The stock had a trading volume of 11,977,293 shares, compared to its average volume of 6,207,998. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $217.41. The firm’s 50 day moving average is $192.59 and its 200-day moving average is $165.70. The stock 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 released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Analysts forecast that Arista Networks, Inc. will post 3.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler upped their price objective on Arista Networks from $240.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday. BNP Paribas Exane raised Arista Networks to a “strong-buy” rating in a research note on Wednesday, October 14th. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. UBS Group reaffirmed a “buy” rating and issued a $291.00 price target (up from $259.00) on shares of Arista Networks in a research report on Wednesday. Finally, Barclays decreased their price objective on Arista Networks from $289.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $240.24.

Key Stories Impacting Arista Networks

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.