Allspring Global Investments Holdings LLC Sells 23,778 Shares of Arista Networks, Inc. $ANET

Allspring Global Investments Holdings LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 1.3% during the second quarter, Holdings Channel.com reports. The fund owned 1,779,806 shares of the technology company’s stock after selling 23,778 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arista Networks were worth $176,041,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC grew its stake in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Arista Networks by 179.7% during the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company’s stock valued at $28,000 after purchasing an additional 230 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Arista Networks during the first quarter valued at approximately $30,000. Saudi Central Bank bought a new position in shares of Arista Networks during the first quarter valued at approximately $33,000. Finally, Costello Asset Management INC boosted its stake in shares of Arista Networks by 51.3% during the first quarter. Costello Asset Management INC now owns 454 shares of the technology company’s stock valued at $35,000 after purchasing an additional 154 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ANET shares. KeyCorp increased their price objective on shares of Arista Networks from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Morgan Stanley set a $171.00 price objective on shares of Arista Networks and gave the company an “overweight” rating in a research note on Friday. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective on the stock in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Arista Networks in a research note on Saturday, September 27th. Nineteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.94.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 1,785,165 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were 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 owned 5,698,074 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 6,678,904 shares of company stock valued at $894,021,161 over the last three months. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Down 2.4%

NYSE:ANET opened at $154.51 on Monday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $162.68. The firm has a 50 day moving average of $140.85 and a 200 day moving average of $109.10. The stock has a market capitalization of $194.19 billion, a price-to-earnings ratio of 60.77, a PEG ratio of 3.21 and a beta of 1.47.

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

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.