Shares of Arista Networks, Inc. (NYSE:ANET – Get Free Report) fell 1% during mid-day trading on Wednesday . The company traded as low as $192.05 and last traded at $192.93. 3,672,184 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 8,285,346 shares. The stock had previously closed at $194.96.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ANET. Bank of America reissued 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. Barclays reaffirmed an “overweight” rating and issued a $289.00 target price (up from $195.00) on shares of Arista Networks in a report on Wednesday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Truist Financial increased their price objective on shares of Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, KeyCorp restated an “overweight” rating and issued a $250.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Arista Networks currently has an average rating of “Buy” and an average target price of $225.76.
Read Our Latest Report on ANET
Arista Networks Trading Down 1.0%
Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The firm’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 3.7 earnings per share for the current year.
Insiders Place Their Bets
In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the transaction, the insider directly owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. The trade was a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the sale, the chief executive officer owned 16,387,981 shares of the company’s stock, valued at $3,297,589,536.82. This trade represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,782,694 shares of company stock worth $726,728,187 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.
Institutional Trading of Arista Networks
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in shares of Arista Networks by 17,042.6% in the 2nd quarter. California State Teachers Retirement System now owns 272,793,984 shares of the technology company’s stock valued at $46,342,242,000 after purchasing an additional 271,202,666 shares during the last quarter. State Street Corp lifted its holdings in shares of Arista Networks by 1.4% during the fourth quarter. State Street Corp now owns 46,970,697 shares of the technology company’s stock worth $6,154,570,000 after purchasing an additional 628,146 shares during the period. Price T Rowe Associates Inc. MD grew its position in Arista Networks by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company’s stock valued at $4,870,618,000 after buying an additional 380,724 shares during the last quarter. Geode Capital Management LLC increased its stake in Arista Networks by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company’s stock valued at $3,455,095,000 after buying an additional 477,625 shares during the period. Finally, Norges Bank acquired a new position in Arista Networks in the 4th quarter valued at $1,558,563,000. 82.47% of the stock is owned by hedge funds and other institutional investors.
About Arista Networks
Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.
The company’s software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.
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