SouthState Bank Corp increased its stake in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 52.8% in the first quarter, HoldingsChannel reports. The firm owned 27,424 shares of the technology company’s stock after buying an additional 9,479 shares during the period. SouthState Bank Corp’s holdings in Arista Networks were worth $3,367,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Board of the Pension Protection Fund purchased a new stake in shares of Arista Networks during the 4th quarter valued at $26,000. Sankala Group LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth about $27,000. Prosperity Bancshares Inc acquired a new stake in Arista Networks during the 4th quarter valued at approximately $28,000. Ameliora Wealth Management Ltd. acquired a new position in Arista Networks during the fourth quarter valued at $30,000. Finally, Hilton Head Capital Partners LLC lifted its holdings in shares of Arista Networks by 184.9% in the 1st quarter. Hilton Head Capital Partners LLC now owns 245 shares of the technology company’s stock valued at $30,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Arista Networks Stock Performance
Shares of ANET stock opened at $182.18 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $104.68 and a fifty-two week high of $189.82. The company has a 50 day moving average price of $160.20 and a 200 day moving average price of $146.56. The stock has a market capitalization of $229.41 billion, a P/E ratio of 62.39, a price-to-earnings-growth ratio of 2.79 and a beta of 1.60.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Weiss Ratings raised shares of Arista Networks from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Raymond James Financial raised Arista Networks from a “market perform” rating to an “outperform” rating and set a $164.00 price target on the stock in a research note on Friday, May 15th. Needham & Company LLC restated a “buy” rating and set a $185.00 price target on shares of Arista Networks in a research report on Wednesday, May 6th. UBS Group reissued a “buy” rating and set a $187.00 price objective (up from $177.00) on shares of Arista Networks in a research note on Wednesday, May 6th. Finally, Citigroup dropped their price target on shares of Arista Networks from $176.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $188.16.
Get Our Latest Stock Report on ANET
Key Headlines Impacting Arista Networks
Here are the key news stories impacting Arista Networks this week:
- Positive Sentiment: Market and analyst commentary continue to frame Arista as a key AI infrastructure winner, citing strong demand for data-center networking, healthy order backlogs, and expectations that AI spending will keep driving growth. UBS sees data center investments to drive demand but supply constraints persist
- Positive Sentiment: Arista was highlighted as a “high-growth wide-moat” name and included among infrastructure stocks tackling AI bottlenecks, reinforcing confidence in its long-term competitive position and upside potential. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks
- Positive Sentiment: Recent technical commentary says ANET is looking strong and has been setting new all-time highs, which can attract momentum-focused buyers. Arista Networks stock looks technically strong as it sets new all-time highs
- Neutral Sentiment: CEO Jayshree Ullal sold 242,422 shares in a pre-arranged Rule 10b5-1 plan. The sale was disclosed normally and does not necessarily signal a change in fundamentals, but large insider sales can still temper sentiment. SEC filing
- Neutral Sentiment: Some recent commentary notes that another enterprise AI stock may have more near-term upside because of its lower valuation, which could modestly cap enthusiasm for ANET. Workday vs. Arista: Which enterprise AI stock has more upside now?
- Negative Sentiment: A recent note said ANET underperformed the broader market in the prior session, reminding investors that the stock can see short-term volatility even with strong longer-term fundamentals. Arista Networks suffers a larger drop than the general market
Insider Activity
In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $167.06, for a total transaction of $1,336,480.00. Following the completion of the sale, the director owned 192,333 shares in the company, valued at $32,131,150.98. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 234,578 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $187.18, for a total transaction of $43,908,310.04. Following the completion of the transaction, the chief executive officer owned 5,134,207 shares of the company’s stock, valued at approximately $961,020,866.26. The trade was a 4.37% 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 3,500,983 shares of company stock valued at $584,395,630 over the last quarter. Company insiders own 2.70% of the company’s stock.
Arista Networks Profile
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.
Read More
- Five stocks we like better than Arista Networks
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
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).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.
