Summit X LLC Acquires Shares of 2,052 Arista Networks, Inc. $ANET

Summit X LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,052 shares of the technology company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Saudi Central Bank acquired a new position in shares of Arista Networks in the 1st quarter valued at about $33,000. REAP Financial Group LLC increased its holdings in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Costello Asset Management INC lifted its stake in shares of Arista Networks by 51.3% in the 1st quarter. Costello Asset Management INC now owns 454 shares of the technology company’s stock valued at $35,000 after purchasing an additional 154 shares during the period. eCIO Inc. purchased a new stake in Arista Networks during the first quarter worth $36,000. Finally, Solstein Capital LLC grew its position in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction on 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 directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. This represents a 18.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at approximately $1,852,324. This trade represents a 69.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,009,040 shares of company stock valued at $294,365,034 over the last quarter. 3.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Wednesday, November 5th. KeyCorp boosted their price objective on Arista Networks from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Melius Research increased their target price on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Morgan Stanley set a $171.00 price target on shares of Arista Networks and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Evercore ISI lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Nineteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.31.

Arista Networks Price Performance

ANET opened at $134.62 on Monday. The firm has a market capitalization of $169.52 billion, a price-to-earnings ratio of 52.95, a price-to-earnings-growth ratio of 3.37 and a beta of 1.48. The company’s 50 day simple moving average is $146.66 and its two-hundred day simple moving average is $120.11. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Arista Networks has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company 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.