Arista Networks (NYSE:ANET) Stock Jumps 3.3% – Here’s What Happened

Arista Networks, Inc. (NYSE:ANET)’s share price shot up 3.3% during trading on Monday. The company traded as high as $185.91 and last traded at $182.8810. 6,278,241 shares traded hands during trading, a decline of 20% from the average daily volume of 7,868,694 shares. The stock had previously closed at $176.98.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ANET shares. Truist Financial upped their target price on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Rosenblatt Securities upped their price objective on Arista Networks from $210.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $255.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Buy” and an average price target of $235.45.

Arista Networks Stock Up 3.3%

The firm has a 50 day moving average price of $198.46 and a two-hundred day moving average price of $174.75. The company has a market capitalization of $230.65 billion, a price-to-earnings ratio of 57.69, a P/E/G ratio of 2.06 and a beta of 1.60.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.13. The company 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%. Arista Networks’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Analysts predict that Arista Networks, Inc. will post 3.79 earnings per share for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $198.95, for a total transaction of $59,685,000.00. Following the sale, the insider directly owned 180,543,048 shares of the company’s stock, valued at approximately $35,919,039,399.60. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chantelle Breithaupt sold 1,224 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total transaction of $263,160.00. Following the completion of the transaction, the chief financial officer directly owned 68,697 shares in the company, valued at $14,769,855. This represents a 1.75% decrease in their position. 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 3,584,116 shares of company stock valued at $733,396,013 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds have recently added to or reduced their stakes in ANET. State Street Corp lifted its position in Arista Networks by 159.4% in 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. Massachusetts Financial Services Co. MA lifted its position in 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 purchasing an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Arista Networks by 199.0% in 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 period. Deutsche Bank AG lifted its holdings in Arista Networks by 4.3% in the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after acquiring an additional 388,354 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Arista Networks by 5.9% during the second 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 in the last quarter. 82.47% of the stock is currently owned by institutional investors.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.