78,201 Shares of Arista Networks, Inc. $ANET Acquired by Detalus Advisors LLC

Key Points

• Detalus Advisors acquired 78,201 Arista Networks shares during the third quarter, valued at approximately $15.9 million and representing 3.1% of its portfolio. Institutional investors collectively own 82.47% of ANET.
• Arista insiders sold 3.63 million shares worth about $740.8 million over the past 90 days, including sales by the CFO and a director under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.45. The stock opened at $185.53, while the company’s latest quarterly results exceeded estimates and revenue grew 37.7% year over year.

Detalus Advisors LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 78,201 shares of the technology company's stock, valued at approximately $15,921,000. Arista Networks makes up about 3.1% of Detalus Advisors LLC's holdings, making the stock its 6th biggest holding.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Arista Networks by 159.4% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Arista Networks by 34.6% during 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 during the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 worth $1,635,978,000 after acquiring an additional 6,409,612 shares during the period. Deutsche Bank AG lifted its holdings in Arista Networks by 4.3% during the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company's stock worth $1,589,651,000 after acquiring an additional 388,354 shares during the period. Finally, Amundi lifted its holdings in Arista Networks by 5.7% during the first quarter. Amundi now owns 9,064,443 shares of the technology company's stock worth $1,112,932,000 after acquiring an additional 491,173 shares during the period. Institutional investors own 82.47% of the company's stock.

Insiders Place Their Bets

In other Arista Networks news, CFO Chantelle Breithaupt sold 1,224 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total value of $263,160.00. Following the completion of the sale, the chief financial officer directly owned 68,697 shares of the company's stock, valued at $14,769,855. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Templeton sold 5,000 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $204.37, for a total value of $1,021,850.00. Following the completion of the sale, the director owned 48,410 shares in the company, valued at approximately $9,893,551.70. The trade was a 9.36% 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. Over the last ninety days, insiders sold 3,627,449 shares of company stock valued at $740,784,723. Company insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

ANET has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $225.00 price objective on shares of Arista Networks in a research report on Wednesday, August 5th. Sanford C. Bernstein began coverage on Arista Networks in a research report on Wednesday, September 30th. They set an "outperform" rating and a $250.00 target price for the company. Weiss Ratings lowered Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. KeyCorp reiterated an "overweight" rating and set a $250.00 target price (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, Truist Financial boosted their price target 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. One 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $235.45.

Arista Networks Stock Down 5.1%

Arista Networks stock opened at $185.53 on Friday. The firm has a 50 day moving average price of $198.69 and a 200-day moving average price of $174.33. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The company has a market capitalization of $234.00 billion, a P/E ratio of 58.53, a P/E/G ratio of 2.27 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. Arista Networks's 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. Equities analysts expect that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

About Arista Networks

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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