Arista Networks, Inc. $ANET Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,148,280 shares of the technology company’s stock after selling 111,856 shares during the quarter. California Public Employees Retirement System’s holdings in Arista Networks were worth $263,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ANET. Board of the Pension Protection Fund purchased a new position in Arista Networks in the 4th quarter valued at $26,000. Sankala Group LLC purchased a new position in Arista Networks during the 4th quarter worth $27,000. Prosperity Bancshares Inc acquired a new stake in shares of Arista Networks in the 4th quarter worth $28,000. Main Street Group LTD acquired a new stake in shares of Arista Networks in the 1st quarter worth $26,000. Finally, Quarry LP purchased a new stake in shares of Arista Networks in the third quarter valued at about $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’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 value of $1,336,480.00. Following the sale, the director owned 192,333 shares in the company, valued at $32,131,150.98. This represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 240,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $162.67, for a total value of $39,040,800.00. Following the completion of the transaction, the insider directly owned 182,043,048 shares of the company’s stock, valued at $29,612,942,618.16. The trade was a 0.13% decrease in their ownership of the stock. 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 3,092,983 shares of company stock worth $519,161,650 over the last quarter. Insiders own 2.70% of the company’s stock.

Arista Networks Stock Up 0.0%

Shares of ANET opened at $168.60 on Friday. Arista Networks, Inc. has a 52-week low of $106.99 and a 52-week high of $189.82. The company has a 50-day simple moving average of $161.75 and a 200-day simple moving average of $147.25. The company has a market capitalization of $212.30 billion, a PE ratio of 57.74, a P/E/G ratio of 2.60 and a beta of 1.60.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Arista Networks had a net margin of 38.32% and a return on equity of 30.10%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 3.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Truist Financial set a $175.00 price target on shares of Arista Networks in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Arista Networks to a “buy” rating in a research report on Wednesday, June 10th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. boosted their target price on Arista Networks from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Citigroup cut their target price on 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 investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Buy” and an average price target of $188.95.

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.