Carnegie Investment Counsel Has $17.21 Million Holdings in Arista Networks, Inc. $ANET

Carnegie Investment Counsel raised its position in Arista Networks, Inc. (NYSE:ANET) by 8.2% in the second quarter, HoldingsChannel reports. The fund owned 168,192 shares of the technology company’s stock after purchasing an additional 12,736 shares during the quarter. Carnegie Investment Counsel’s holdings in Arista Networks were worth $17,208,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HighMark Wealth Management LLC lifted its holdings in shares of Arista Networks by 179.7% in 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 in the first quarter valued at approximately $30,000. Saudi Central Bank bought a new position in shares of Arista Networks in the first quarter valued at approximately $33,000. REAP Financial Group LLC lifted its holdings in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Arista Networks by 45.8% in the first quarter. Tradewinds Capital Management LLC now owns 455 shares of the technology company’s stock valued at $35,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 4.2%

Shares of Arista Networks stock opened at $152.74 on Friday. The business’s fifty day simple moving average is $142.88 and its 200 day simple moving average is $113.06. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $162.68. The firm has a market capitalization of $191.97 billion, a P/E ratio of 60.08, a price-to-earnings-growth ratio of 3.06 and a beta of 1.47.

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

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $147.49, for a total value of $1,179,920.00. Following the completion of the sale, the director directly owned 41,784 shares of the company’s stock, valued at $6,162,722.16. This trade represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 1,247,688 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,617,342 shares of company stock valued at $888,707,954 over the last ninety days. 3.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ANET shares. Barclays raised their target price on Arista Networks from $151.00 to $179.00 and gave the company an “overweight” rating in a report on Friday, September 12th. JPMorgan Chase & Co. raised their target price on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Erste Group Bank upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Finally, Piper Sandler lifted their price target on Arista Networks from $89.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Nineteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.94.

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.