Northwestern Mutual Wealth Management Co. Grows Stake in Arista Networks, Inc. $ANET

by · The Cerbat Gem

Northwestern Mutual Wealth Management Co. increased its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 17.5% during the second quarter, Holdings Channel reports. The firm owned 654,181 shares of the technology company’s stock after acquiring an additional 97,442 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Arista Networks were worth $66,929,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its holdings in shares of Arista Networks by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 993,860 shares of the technology company’s stock worth $101,682,000 after buying an additional 12,730 shares in the last quarter. Atika Capital Management LLC increased its holdings in Arista Networks by 22.3% in the 2nd quarter. Atika Capital Management LLC now owns 261,608 shares of the technology company’s stock valued at $26,765,000 after acquiring an additional 47,620 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in Arista Networks by 10.2% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 7,539 shares of the technology company’s stock worth $771,000 after purchasing an additional 700 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in Arista Networks by 13.0% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 257,913 shares of the technology company’s stock worth $26,387,000 after purchasing an additional 29,669 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Arista Networks by 20.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 25,034 shares of the technology company’s stock valued at $2,561,000 after purchasing an additional 4,174 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

NYSE:ANET opened at $131.25 on Friday. The firm has a market capitalization of $165.28 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 3.37 and a beta of 1.48. The business has a 50 day simple moving average of $142.06 and a 200-day simple moving average of $124.06. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. Arista Networks has set its Q4 2025 guidance at EPS. As a group, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $128.61, for a total value of $3,858,300.00. Following the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 58,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,009,464 shares of company stock valued at $293,774,712 in the last quarter. 3.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research reports. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. JPMorgan Chase & Co. raised their price target on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $145.00 price objective (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Wells Fargo & Company increased their target price on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Finally, UBS Group raised their target price on shares of Arista Networks from $115.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.31.

View Our Latest Stock Report on ANET

About Arista Networks

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).