VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Arista Networks, Inc. $ANET

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 591,172 shares of the technology company’s stock, valued at approximately $60,483,000.

Several other institutional investors have also made changes to their positions in ANET. Vanguard Group Inc. grew its position in Arista Networks by 1.8% in the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company’s stock worth $7,581,955,000 after acquiring an additional 1,771,982 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock worth $1,778,880,000 after purchasing an additional 1,889,198 shares in the last quarter. Nuveen LLC bought a new position in Arista Networks during the first quarter valued at about $933,626,000. Northern Trust Corp boosted its stake in shares of Arista Networks by 3.7% during the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company’s stock worth $799,244,000 after acquiring an additional 372,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Arista Networks by 37.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company’s stock valued at $740,126,000 after acquiring an additional 2,594,184 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Melius Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. KeyCorp lifted their target price on shares of Arista Networks from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, William Blair restated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.94.

Arista Networks Stock Performance

NYSE ANET opened at $143.10 on Friday. The firm has a 50-day simple moving average of $142.11 and a 200 day simple moving average of $111.15. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $162.68. The stock has a market cap of $179.86 billion, a PE ratio of 56.28, a PEG ratio of 2.98 and a beta of 1.47.

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

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total value of $1,179,920.00. Following the sale, the director owned 41,784 shares of the company’s stock, valued at $6,162,722.16. The trade was a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $141.79, for a total transaction of $4,253,700.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,839,867.04. The trade was a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,622,904 shares of company stock worth $887,794,521. Company 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.