Arista Networks, Inc. $ANET Holdings Decreased by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,051,432 shares of the technology company’s stock after selling 414,053 shares during the quarter. Legal & General Group Plc owned about 0.56% of Arista Networks worth $1,197,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Arista Networks during the 4th quarter worth about $1,558,563,000. Franklin Resources Inc. boosted its holdings in shares of Arista Networks by 59.3% in the fourth quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company’s stock valued at $1,032,302,000 after acquiring an additional 2,934,098 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Arista Networks by 34.6% in the second 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 acquiring an additional 2,497,275 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Arista Networks by 86.0% during the first quarter. Pictet Asset Management Holding SA now owns 4,240,951 shares of the technology company’s stock valued at $520,168,000 after acquiring an additional 1,960,829 shares during the period. Finally, Clearbridge Investments LLC acquired a new position in shares of Arista Networks during the fourth quarter valued at approximately $198,285,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock opened at $188.24 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $214.89. The firm’s 50 day simple moving average is $177.95 and its 200-day simple moving average is $156.75. The company has a market cap of $237.42 billion, a P/E ratio of 59.38, a price-to-earnings-growth ratio of 1.95 and a beta of 1.60.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, analysts expect that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jayshree Ullal sold 573,509 shares of Arista Networks stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total transaction of $119,364,428.17. Following the transaction, the chief executive officer owned 25,000 shares in the company, valued at approximately $5,203,250. The trade was a 95.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 111,848 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $192.75, for a total value of $21,558,702.00. Following the transaction, the insider directly owned 109,833 shares in the company, valued at $21,170,310.75. The trade was a 50.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,935,851 shares of company stock valued at $738,332,610 in the last 90 days. Company insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

ANET has been the topic of several recent analyst reports. Raymond James Financial raised Arista Networks from a “market perform” rating to an “outperform” rating and set a $164.00 target price on the stock in a report on Friday, May 15th. Wolfe Research reiterated an “outperform” rating and set a $175.00 price target on shares of Arista Networks in a research report on Wednesday, June 10th. Citigroup reiterated a “buy” rating on shares of Arista Networks in a research report on Thursday, August 6th. Bank of America reissued a “buy” rating and issued a $240.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, TD Cowen upped their price objective on Arista Networks from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $226.05.

About Arista Networks

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.