Arista Networks, Inc. $ANET Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 7.8% in the second quarter, HoldingsChannel.com reports. The fund 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 & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Elevate Capital Advisors LLC acquired a new position in Arista Networks in the second quarter valued at approximately $1,576,000. Sava Infond d.o.o. boosted its stake in Arista Networks by 17.8% in the second quarter. Sava Infond d.o.o. now owns 306,705 shares of the technology company’s stock valued at $31,379,000 after acquiring an additional 46,435 shares during the period. LGT Fund Management Co Ltd. acquired a new position in Arista Networks in the second quarter valued at approximately $2,485,000. Quent Capital LLC boosted its position in shares of Arista Networks by 15.2% during the second quarter. Quent Capital LLC now owns 2,578 shares of the technology company’s stock worth $264,000 after buying an additional 341 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Arista Networks during the second quarter worth approximately $134,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a research report on Thursday, September 25th. KeyCorp boosted their price objective on Arista Networks from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Arista Networks in a research report on Saturday, September 27th. Finally, William Blair reiterated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 5,698,074 shares of the company’s stock, valued at approximately $776,191,640.28. This represents a 23.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 6,678,904 shares of company stock valued at $894,021,161 over the last quarter. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $145.51 on Friday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $156.32. The stock has a market cap of $182.88 billion, a price-to-earnings ratio of 57.23, a PEG ratio of 3.01 and a beta of 1.47. The stock’s 50 day moving average price is $137.53 and its 200 day moving average price is $106.35.

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

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.