Penobscot Investment Management Company Inc. Raises Holdings in Arista Networks, Inc. $ANET

Penobscot Investment Management Company Inc. increased its position in Arista Networks, Inc. (NYSE:ANET) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,073 shares of the technology company’s stock after buying an additional 2,815 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Arista Networks were worth $3,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ibex Wealth Advisors raised its position in Arista Networks by 14.4% in the first quarter. Ibex Wealth Advisors now owns 58,093 shares of the technology company’s stock valued at $4,501,000 after purchasing an additional 7,329 shares during the period. Sowell Financial Services LLC purchased a new position in Arista Networks in the first quarter valued at about $629,000. Commonwealth Equity Services LLC raised its position in Arista Networks by 19.8% in the first quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company’s stock valued at $47,519,000 after purchasing an additional 101,162 shares during the period. Westfield Capital Management Co. LP purchased a new position in Arista Networks in the first quarter valued at about $15,227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Arista Networks by 94.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company’s stock valued at $50,363,000 after purchasing an additional 316,309 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

NYSE:ANET opened at $145.51 on Friday. The company has a market capitalization of $182.88 billion, a price-to-earnings ratio of 57.23, a price-to-earnings-growth ratio of 3.01 and a beta of 1.47. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $156.32. The stock has a 50-day simple moving average of $137.53 and a 200 day simple moving average of $106.35.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 1,785,165 shares of Arista Networks stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $136.22, for a total value of $243,175,176.30. Following the completion of the transaction, the chief executive officer directly owned 5,698,074 shares in the company, valued at approximately $776,191,640.28. This trade represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,678,904 shares of company stock valued at $894,021,161 in the last three months. 3.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Needham & Company LLC raised their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Piper Sandler raised their target price on Arista Networks from $89.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. UBS Group raised their target price on Arista Networks from $115.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.