Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Arista Networks, Inc. $ANET

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 787,254 shares of the technology company’s stock after purchasing an additional 35,023 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Arista Networks were worth $80,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Arista Networks by 6.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,995,379 shares of the technology company’s stock worth $204,147,000 after buying an additional 122,277 shares during the period. Parkside Financial Bank & Trust grew its stake in Arista Networks by 7.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,654 shares of the technology company’s stock worth $272,000 after acquiring an additional 184 shares in the last quarter. Freemont Management S.A. increased its position in shares of Arista Networks by 91.8% during the second quarter. Freemont Management S.A. now owns 343,100 shares of the technology company’s stock worth $35,103,000 after acquiring an additional 164,200 shares during the period. Keystone Financial Services purchased a new position in shares of Arista Networks during the second quarter worth approximately $245,000. Finally, Aviva PLC raised its stake in shares of Arista Networks by 6.6% during the second quarter. Aviva PLC now owns 796,102 shares of the technology company’s stock valued at $81,449,000 after acquiring an additional 49,615 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 0.4%

Shares of NYSE:ANET opened at $134.62 on Friday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock has a market cap of $169.20 billion, a price-to-earnings ratio of 52.95, a PEG ratio of 3.37 and a beta of 1.48. The business has a 50-day moving average price of $146.66 and a 200-day moving average price of $119.77.

Arista Networks (NYSE:ANET) last posted 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. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.40 earnings per share. Arista Networks has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In other news, 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 of the company’s stock, valued at $1,852,324. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $157.12, for a total transaction of $1,256,960.00. Following the transaction, the director owned 33,784 shares of the company’s stock, valued at approximately $5,308,142.08. This trade represents a 19.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,009,040 shares of company stock worth $294,365,034 in the last ninety days. Company insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Evercore ISI increased their price target on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. KeyCorp upped their price objective on shares of Arista Networks from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Melius Research raised their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Arista Networks in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Nineteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.31.

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.