8,756 Arista Networks, Inc. $ANET Shares Acquired by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors increased its Arista Networks stake by 118% in the third quarter, acquiring 8,756 additional shares and bringing its holdings to 16,178 shares valued at $3.29 million. Institutional investors own 82.47% of the stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $235.45. Recent targets range from $234 to $260, although Zacks Research downgraded the stock to “Hold.”
• Arista shares recently traded at $183.28, down $12.14, despite strong quarterly results that beat estimates and showed 37.7% year-over-year revenue growth. Insiders have sold 3.63 million shares worth $740.8 million over the past three months.

Turtle Creek Wealth Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 118.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,178 shares of the technology company's stock after acquiring an additional 8,756 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Arista Networks were worth $3,294,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ANET. Cura Wealth Advisors LLC grew its position in Arista Networks by 3.1% during the second quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company's stock valued at $297,000 after buying an additional 52 shares during the period. Affinity Capital Advisors LLC raised its position in Arista Networks by 1.4% in the third quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company's stock worth $817,000 after acquiring an additional 53 shares during the period. Madison Wealth Partners Inc raised its position in Arista Networks by 2.8% in the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company's stock worth $370,000 after acquiring an additional 60 shares during the period. Intrua Financial LLC boosted its stake in Arista Networks by 2.7% in the first quarter. Intrua Financial LLC now owns 2,307 shares of the technology company's stock valued at $283,000 after acquiring an additional 61 shares during the last quarter. Finally, Shepherd Financial Partners LLC boosted its stake in Arista Networks by 1.2% in the second quarter. Shepherd Financial Partners LLC now owns 5,403 shares of the technology company's stock valued at $918,000 after acquiring an additional 66 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ANET. KeyCorp restated an "overweight" rating and set a $250.00 price target (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Citigroup reiterated a "buy" rating and issued a $248.00 price objective (up from $215.00) on shares of Arista Networks in a research note on Thursday, October 8th. Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, Truist Financial raised their target price on Arista Networks from $175.00 to $234.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Arista Networks has a consensus rating of "Moderate Buy" and a consensus target price of $235.45.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Mark Templeton sold 5,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $204.37, for a total value of $1,021,850.00. Following the completion of the transaction, the director owned 48,410 shares in the company, valued at $9,893,551.70. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Arista Networks stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $198.95, for a total value of $59,685,000.00. Following the transaction, the insider directly owned 180,543,048 shares of the company's stock, valued at $35,919,039,399.60. The trade was a 0.17% 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 have sold a total of 3,627,449 shares of company stock worth $740,784,723 in the last three months. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $12.14 during trading on Thursday, hitting $183.28. 6,047,001 shares of the company were exchanged, compared to its average volume of 7,858,619. The company has a market cap of $231.15 billion, a PE ratio of 57.77, a P/E/G ratio of 2.38 and a beta of 1.60. The stock has a 50 day moving average of $198.83 and a 200 day moving average of $173.87. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41.

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. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. The business's revenue for the quarter was up 37.7% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Sell-side analysts forecast 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.

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