Sierra Summit Advisors LLC Sells 40,086 Shares of Arista Networks, Inc. $ANET

Sierra Summit Advisors LLC lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 34.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,159 shares of the technology company’s stock after selling 40,086 shares during the period. Arista Networks makes up approximately 1.4% of Sierra Summit Advisors LLC’s holdings, making the stock its 29th largest holding. Sierra Summit Advisors LLC’s holdings in Arista Networks were worth $7,894,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ANET. Commonwealth Equity Services LLC grew its stake in shares of Arista Networks by 19.8% in the first quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company’s stock worth $47,519,000 after purchasing an additional 101,162 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in Arista Networks in the 1st quarter worth approximately $15,227,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arista Networks by 94.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company’s stock worth $50,363,000 after buying an additional 316,309 shares during the last quarter. Trilogy Capital Inc. grew its position in shares of Arista Networks by 13.7% in the 1st quarter. Trilogy Capital Inc. now owns 25,625 shares of the technology company’s stock worth $1,985,000 after buying an additional 3,079 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a report on Thursday, September 25th. KeyCorp raised their target price on shares of Arista Networks from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Evercore ISI increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Wednesday, November 5th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.31.

Arista Networks Stock Performance

ANET stock opened at $117.40 on Friday. The firm has a 50 day moving average price of $143.90 and a 200-day moving average price of $122.95. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The firm has a market capitalization of $147.84 billion, a price-to-earnings ratio of 46.18, a PEG ratio of 3.37 and a beta of 1.48.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Arista Networks has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at $1,668,843.36. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 1,247,688 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the transaction, the chief executive officer owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,009,040 shares of company stock valued at $293,922,634. 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.