Sumitomo Life Insurance Co. Trims Stock Position in Arista Networks, Inc. $ANET

Sumitomo Life Insurance Co. lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,981 shares of the technology company’s stock after selling 1,300 shares during the period. Sumitomo Life Insurance Co.’s holdings in Arista Networks were worth $3,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ANET. Brighton Jones LLC raised its holdings in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Arista Networks during the fourth quarter worth $202,000. Bison Wealth LLC purchased a new position in shares of Arista Networks during the fourth quarter worth $251,000. Golden State Wealth Management LLC raised its holdings in shares of Arista Networks by 564.6% during the first quarter. Golden State Wealth Management LLC now owns 4,732 shares of the technology company’s stock worth $367,000 after purchasing an additional 4,020 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in Arista Networks by 11.9% during the first quarter. DAVENPORT & Co LLC now owns 30,196 shares of the technology company’s stock valued at $2,340,000 after buying an additional 3,219 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 0.5%

Shares of NYSE ANET opened at $157.64 on Friday. The company’s 50-day simple moving average is $145.72 and its 200-day simple moving average is $117.19. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The firm has a market cap of $198.13 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 3.37 and a beta of 1.47.

Arista Networks (NYSE:ANET) last announced its 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. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the business earned $0.53 earnings per share. The company’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. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Erste Group Bank upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Barclays raised their price target on shares of Arista Networks from $151.00 to $179.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, Rosenblatt Securities raised their price target on shares of Arista Networks from $125.00 to $140.00 and gave the company a “neutral” rating in a research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.94.

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $142.75, for a total value of $4,282,500.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,852,324. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 1,247,688 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the transaction, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. This represents a 18.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,325,040 shares of company stock worth $611,632,257 over the last 90 days. 3.39% of the stock is currently owned by company insiders.

Arista Networks Company 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.