60,149 Arista Networks, Inc. $ANET Shares Sold by Eastern Bank

Eastern Bank lowered its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,144 shares of the technology company's stock after selling 60,149 shares during the quarter. Eastern Bank's holdings in Arista Networks were worth $58,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in 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 acquiring an additional 74,541,134 shares during the period. Jupiter Topco LLC purchased a new position in shares of Arista Networks during the second quarter valued at approximately $1,101,860,000. Envestnet Asset Management Inc. lifted its position in 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 purchasing an additional 6,409,612 shares during the period. Alyeska Investment Group L.P. bought a new position in Arista Networks during the second quarter valued at approximately $537,736,000. Finally, Franklin Resources Inc. boosted its holdings in Arista Networks by 59.3% in the fourth quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company's stock worth $1,032,302,000 after purchasing an additional 2,934,098 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE:ANET traded up $0.10 during mid-day trading on Monday, reaching $207.45. 1,502,980 shares of the company traded hands, compared to its average volume of 7,945,253. The company's 50 day moving average price is $193.78 and its 200-day moving average price is $169.54. The firm has a market cap of $261.64 billion, a PE ratio of 65.38, a PEG ratio of 2.44 and a beta of 1.60. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $214.89.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share 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 net margin of 38.37% and a return on equity of 30.65%. The company's revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, research analysts predict that Arista Networks, Inc. will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. This represents a 0.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total value of $154,341,575.38. Following the sale, the chief executive officer directly owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. This represents a 4.47% 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. Insiders sold a total of 3,382,316 shares of company stock valued at $675,904,720 in the last ninety days. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ANET shares. Bank of America reiterated a "buy" rating and set a $240.00 target price (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Wolfe Research reiterated an "outperform" rating and set a $175.00 price objective on shares of Arista Networks in a research report on Wednesday, June 10th. Weiss Ratings raised Arista Networks from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 18th. Citigroup reaffirmed a "buy" rating on shares of Arista Networks in a research report on Thursday, August 6th. Finally, Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company's stock. According to MarketBeat.com, Arista Networks has a consensus rating of "Buy" and an average target price of $231.70.

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.

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