Legacy Financial Advisors Inc. Sells 229 Shares of Arista Networks, Inc. $ANET

Legacy Financial Advisors Inc. cut its stake in Arista Networks, Inc. (NYSE:ANET) by 6.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,089 shares of the technology company’s stock after selling 229 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Arista Networks were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Clearstead Trust LLC grew its position in Arista Networks by 5.1% in the 1st quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company’s stock worth $190,000 after purchasing an additional 119 shares during the period. Pier 88 Investment Partners LLC boosted its stake in shares of Arista Networks by 1.5% in the 1st quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company’s stock worth $617,000 after buying an additional 120 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of Arista Networks by 31.3% in the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company’s stock worth $41,000 after acquiring an additional 125 shares during the period. PFG Advisors grew its holdings in shares of Arista Networks by 2.7% in the first quarter. PFG Advisors now owns 5,061 shares of the technology company’s stock worth $392,000 after acquiring an additional 131 shares during the period. Finally, Harbour Investments Inc. increased its position in Arista Networks by 9.4% during the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company’s stock valued at $126,000 after acquiring an additional 139 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Arista Networks from $115.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. BNP Paribas Exane cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a research note on Wednesday, June 11th. KeyCorp raised their price objective 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. Needham & Company LLC boosted their target price on shares of Arista Networks from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Erste Group Bank upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.07.

Arista Networks Trading Down 1.0%

Arista Networks stock opened at $131.3960 on Thursday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $141.99. The firm has a market capitalization of $165.15 billion, a price-to-earnings ratio of 51.68, a P/E/G ratio of 3.12 and a beta of 1.37. The firm has a 50 day moving average of $112.32 and a 200 day moving average of $96.65.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share 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 analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The company’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Arista Networks has set its Q3 2025 guidance at EPS. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 192,979 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $139.67, for a total value of $26,953,376.93. Following the completion of the transaction, the chief executive officer owned 5,623,721 shares of the company’s stock, valued at $785,465,112.07. This represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $136.51, for a total value of $4,095,300.00. Following the sale, the senior vice president owned 12,976 shares of the company’s stock, valued at $1,771,353.76. This represents a 69.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,823,574 shares of company stock worth $721,676,802. Corporate 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.