Harvest Portfolios Group Inc. Invests $27.97 Million in Arista Networks, Inc. $ANET

Harvest Portfolios Group Inc. bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 273,380 shares of the technology company’s stock, valued at approximately $27,970,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC increased its holdings in shares of Arista Networks by 0.7% in the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 18,439 shares of the technology company’s stock valued at $1,887,000 after acquiring an additional 126 shares during the period. Sustainable Insight Capital Management LLC grew its position in Arista Networks by 54.9% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 5,402 shares of the technology company’s stock worth $553,000 after purchasing an additional 1,914 shares during the last quarter. Malaga Cove Capital LLC grew its position in Arista Networks by 32.3% during the 2nd quarter. Malaga Cove Capital LLC now owns 12,015 shares of the technology company’s stock worth $1,229,000 after purchasing an additional 2,931 shares during the last quarter. Modera Wealth Management LLC increased its stake in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 7,273 shares of the technology company’s stock valued at $744,000 after purchasing an additional 153 shares during the period. Finally, Twin Capital Management Inc. raised its holdings in shares of Arista Networks by 4.1% in the second quarter. Twin Capital Management Inc. now owns 43,134 shares of the technology company’s stock valued at $4,413,000 after buying an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 1,247,688 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the sale, the chief executive officer owned 5,383,207 shares of the company’s stock, valued at approximately $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Friday, October 17th. The stock was sold at an average price of $142.75, for a total value of $4,282,500.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,852,324. This trade represents a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,009,040 shares of company stock worth $294,365,034. 3.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ANET shares. Piper Sandler reaffirmed a “neutral” rating and set a $145.00 price objective (up from $143.00) on shares of Arista Networks in a research report on Wednesday. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a research note on Thursday, September 25th. Melius Research boosted their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Morgan Stanley set a $171.00 price objective on shares of Arista Networks and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Needham & Company LLC raised their target price on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $164.31.

Arista Networks Trading Down 4.6%

ANET stock opened at $133.99 on Friday. The company’s 50-day moving average price is $146.69 and its 200 day moving average price is $118.95. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The company has a market cap of $168.41 billion, a P/E ratio of 52.70, a P/E/G ratio of 3.37 and a beta of 1.48.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the company posted $2.40 earnings per share. 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. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

About Arista Networks

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.