Arista Networks, Inc. (NYSE:ANET – Get Free Report)’s share price rose 1.5% on Friday. The stock traded as high as $208.63 and last traded at $207.50. 4,112,869 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 7,979,429 shares. The stock had previously closed at $204.49.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Citigroup reiterated a “buy” rating on shares of Arista Networks in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Arista Networks in a report on Monday, August 31st. They set a “buy” rating and a $220.00 target price for the company. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. TD Cowen boosted their price target on Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Truist Financial increased their price objective on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $231.70.
View Our Latest Report on ANET
Arista Networks Trading Up 1.5%
Arista Networks (NYSE:ANET – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.74 earnings per share for the current fiscal year.
Insider Activity at Arista Networks
In related news, CEO Jayshree Ullal sold 767,029 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the transaction, the chief executive officer directly owned 16,387,981 shares of the company’s stock, valued at $3,297,589,536.82. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the completion of the transaction, the insider owned 181,143,048 shares of the company’s stock, valued at approximately $36,826,381,658.40. The trade was a 0.17% 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 have sold a total of 3,382,316 shares of company stock valued at $675,904,720 in the last quarter. 2.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ANET. State Street Corp increased its stake in Arista Networks by 159.4% in the second quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock valued at $20,606,975,000 after purchasing an additional 74,541,134 shares during the period. Massachusetts Financial Services Co. MA grew its position in Arista Networks by 34.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock valued at $1,712,788,000 after buying an additional 2,497,275 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Arista Networks by 199.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock valued at $1,635,978,000 after buying an additional 6,409,612 shares during the period. Deutsche Bank AG raised 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 worth $1,589,651,000 after buying an additional 388,354 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Arista Networks by 5.9% during the 2nd quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock worth $1,433,951,000 after buying an additional 470,451 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 develops and sells cloud networking solutions for data centers, campus environments and high-performance computing applications. Its products include Ethernet switches, routers, wireless access points and related networking equipment designed to support cloud computing, artificial intelligence, enterprise and service-provider networks.
The company’s software portfolio includes Arista EOS, its network operating system, and CloudVision, a platform that helps customers manage, automate and monitor network infrastructure.
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