Arista Networks, Inc. $ANET Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 199.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,630,196 shares of the technology company’s stock after purchasing an additional 6,409,612 shares during the period. Envestnet Asset Management Inc. owned approximately 0.76% of Arista Networks worth $1,635,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Andra AP fonden lifted its stake in Arista Networks by 106.2% during the second quarter. Andra AP fonden now owns 515,400 shares of the technology company’s stock valued at $87,556,000 after purchasing an additional 265,400 shares during the last quarter. State Street Corp boosted its holdings in Arista Networks by 159.4% during the second quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after buying an additional 74,541,134 shares in the last quarter. Silicon Valley Capital Partners grew its position in Arista Networks by 2,331.4% in the second quarter. Silicon Valley Capital Partners now owns 156,458 shares of the technology company’s stock worth $26,579,000 after buying an additional 150,023 shares during the last quarter. Cherry Tree Wealth Management LLC grew its position in Arista Networks by 1,383.2% in the second quarter. Cherry Tree Wealth Management LLC now owns 4,420 shares of the technology company’s stock worth $751,000 after buying an additional 4,122 shares during the last quarter. Finally, Talon Private Wealth LLC acquired a new position in Arista Networks in the second quarter worth approximately $232,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the sale, the chief executive officer directly owned 16,387,981 shares of the company’s stock, valued at approximately $3,297,589,536.82. This represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider owned 181,143,048 shares of the company’s stock, valued at $36,826,381,658.40. The trade was a 0.17% 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 have sold 3,784,361 shares of company stock worth $736,922,644 over the last three months. 2.70% of the stock is owned by insiders.

Arista Networks Price Performance

Arista Networks stock traded down $1.95 during midday trading on Wednesday, reaching $203.25. The stock had a trading volume of 3,965,779 shares, compared to its average volume of 8,126,630. The firm’s fifty day simple moving average is $188.56 and its two-hundred day simple moving average is $165.68. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89. The firm has a market cap of $256.34 billion, a price-to-earnings ratio of 64.12, a PEG ratio of 2.44 and a beta of 1.62.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating 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 net margin of 38.37% and a return on equity of 30.65%. The company’s revenue was up 37.7% on a year-over-year basis. 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. As a group, sell-side analysts predict that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on ANET. Wells Fargo & Company reiterated an “overweight” rating and set a $255.00 price objective (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Bank of America restated a “buy” rating and issued a $240.00 target price (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Wolfe Research reaffirmed an “outperform” rating and set a $175.00 target price on shares of Arista Networks in a research report on Wednesday, June 10th. KeyCorp reaffirmed an “overweight” rating and set a $250.00 target price (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, Rosenblatt Securities increased their price target on Arista Networks from $210.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $227.80.

Arista Networks Profile

Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.

The company’s software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.