First National Bank of Omaha trimmed its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 16.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,953 shares of the technology company’s stock after selling 4,613 shares during the period. First National Bank of Omaha’s holdings in Arista Networks were worth $4,069,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ANET. Lighthouse Financial Services Inc. ADV bought a new position in Arista Networks in the 4th quarter worth $1,549,000. Bensler LLC purchased a new stake in shares of Arista Networks in the 4th quarter worth about $6,350,000. QRG Capital Management Inc. boosted its stake in shares of Arista Networks by 6.4% during the 4th quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company’s stock valued at $22,224,000 after purchasing an additional 10,217 shares in the last quarter. Reaves W H & Co. Inc. purchased a new position in shares of Arista Networks during the fourth quarter valued at about $3,058,000. Finally, Jefferies Financial Group Inc. increased its position in shares of Arista Networks by 59.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company’s stock valued at $2,309,000 after buying an additional 6,591 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Insider Activity
In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $181.02, for a total transaction of $1,448,160.00. Following the sale, the director directly owned 184,333 shares in the company, valued at approximately $33,367,959.66. This trade represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 573,509 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total value of $119,364,428.17. Following the completion of the transaction, the chief executive officer directly owned 25,000 shares of the company’s stock, valued at approximately $5,203,250. This trade represents a 95.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 4,334,197 shares of company stock valued at $798,500,786. Company insiders own 2.70% of the company’s stock.
Arista Networks Stock Down 4.6%
Arista Networks (NYSE:ANET – Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, research analysts expect that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ANET has been the topic of several research reports. Bank of America reaffirmed a “buy” rating and set a $240.00 price objective (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. UBS Group restated a “buy” rating and issued a $259.00 target price (up from $187.00) on shares of Arista Networks in a research note on Wednesday, August 5th. TD Cowen upped their price target on Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Raymond James Financial upgraded Arista Networks from a “market perform” rating to an “outperform” rating and set a $164.00 price objective for the company in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $226.05.
Get Our Latest Report on Arista Networks
About Arista Networks
Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.
Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.
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