WealthPLAN Partners LLC Acquires 9,308 Shares of Arista Networks, Inc. $ANET

WealthPLAN Partners LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 573.9% during the 3rd quarter, Holdings Channel reports. The firm owned 10,930 shares of the technology company’s stock after purchasing an additional 9,308 shares during the quarter. WealthPLAN Partners LLC’s holdings in Arista Networks were worth $2,225,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ANET. State Street Corp grew its holdings in shares of Arista Networks by 159.4% during the 2nd 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 last quarter. Jupiter Topco LLC bought a new position in shares of Arista Networks during the second quarter valued at about $1,101,860,000. Envestnet Asset Management Inc. grew its stake in shares of Arista Networks by 199.0% during the second 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 last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Arista Networks in the second quarter worth about $537,736,000. Finally, Massachusetts Financial Services Co. MA increased 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 worth $1,712,788,000 after buying an additional 2,497,275 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $240.00 target price (up from $181.00) on shares of Arista Networks in a report on Wednesday, August 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $255.00 price target (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Rosenblatt Securities lifted their price target on Arista Networks from $210.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Truist Financial raised their target price on shares of Arista Networks from $175.00 to $234.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

Insider Transactions at Arista Networks

In related news, insider Kenneth Duda sold 17,333 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $203.50, for a total value of $3,527,265.50. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $2,640,616. The trade was a 57.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark B. Templeton sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $204.37, for a total transaction of $1,021,850.00. Following the completion of the transaction, the director owned 48,410 shares of the company’s stock, valued at $9,893,551.70. This represents a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,627,449 shares of company stock worth $740,784,723. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $10.63 during mid-day trading on Thursday, hitting $184.79. 6,350,349 shares of the stock traded hands, compared to its average volume of 7,861,133. The company has a market cap of $233.06 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.38 and a beta of 1.60. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $217.41. The stock has a fifty day moving average price of $198.83 and a 200-day moving average price of $173.87.

Arista Networks (NYSE:ANET) last issued its 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. The business 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 period last year, the business posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

Arista Networks Profile

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.