Arista Networks, Inc. (NYSE:ANET – Get Free Report) rose 2.5% during mid-day trading on Wednesday . The stock traded as high as $200.25 and last traded at $197.6220. 4,448,374 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 8,178,413 shares. The stock had previously closed at $192.84.
Analyst Ratings Changes
A number of analysts have commented on ANET shares. Truist Financial boosted their price target on shares of Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Piper Sandler reissued an “overweight” rating and set a $240.00 target price (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Citigroup restated a “buy” rating on shares of Arista Networks in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of “Buy” and an average target price of $227.80.
View Our Latest Stock Report on Arista Networks
Arista Networks Trading Up 1.1%
Arista Networks (NYSE:ANET – Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share 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 company’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 3.7 EPS for the current year.
Insider Buying and Selling at Arista Networks
In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $202.60, for a total value of $60,780,000.00. Following the completion of the sale, the insider directly owned 180,843,048 shares of the company’s stock, valued at $36,638,801,524.80. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark B. Templeton sold 5,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $197.16, for a total value of $985,800.00. Following the transaction, the director owned 53,410 shares of the company’s stock, valued at $10,530,315.60. The trade was a 8.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,527,694 shares of company stock valued at $684,665,787 in the last three months. 2.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Arista Networks
Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after acquiring an additional 388,354 shares in the last quarter. Reaves W H & Co. Inc. bought a new position in shares of Arista Networks during the fourth quarter valued at approximately $3,058,000. Jefferies Financial Group Inc. increased its position in Arista Networks by 59.8% during the 4th 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 in the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of Arista Networks in the first quarter worth $5,279,000. Finally, Whitaker Myers Wealth Managers LTD. grew its position in Arista Networks by 564.1% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 16,847 shares of the technology company’s stock valued at $2,862,000 after purchasing an additional 14,310 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
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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