99,730 Shares in Arista Networks, Inc. $ANET Bought by Summit Financial Wealth Advisors LLC

Key Points

• Summit Financial Wealth Advisors bought 99,730 Arista Networks shares worth approximately $20.3 million, making ANET its ninth-largest holding and about 2.5% of its portfolio. Institutional investors and hedge funds collectively own 82.47% of the company.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.45. Recent targets range from $220 to $280.
• Arista shares fell 6.0% to $183.63, despite the company reporting quarterly EPS of $1.02 versus the $0.89 consensus and 37.7% year-over-year revenue growth. Insiders sold 3.63 million shares worth about $740.8 million over the past 90 days.

Summit Financial Wealth Advisors LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 99,730 shares of the technology company's stock, valued at approximately $20,304,000. Arista Networks makes up approximately 2.5% of Summit Financial Wealth Advisors LLC's investment portfolio, making the stock its 9th biggest position.

Several other hedge funds also recently modified their holdings of ANET. ABS Investment Management LLC acquired a new stake in shares of Arista Networks in the second quarter valued at $29,000. ABS Direct Equity Fund LLC acquired a new position in Arista Networks during the second quarter worth about $29,000. Kelleher Financial Advisors acquired a new position in Arista Networks during the second quarter worth about $31,000. Cornerstone Financial Management LLC grew its holdings in Arista Networks by 61.9% during the second quarter. Cornerstone Financial Management LLC now owns 183 shares of the technology company's stock worth $31,000 after acquiring an additional 70 shares during the period. Finally, Sankala Group LLC bought a new stake in Arista Networks in the fourth quarter worth about $27,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $260.00 price target (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Arista Networks in a research report on Monday, August 31st. They set a "buy" rating and a $220.00 price objective for the company. 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. Sanford C. Bernstein began coverage on shares of Arista Networks in a report on Wednesday, September 30th. They issued an "outperform" rating and a $250.00 target price on the stock. Finally, Rosenblatt Securities increased their target price on shares of Arista Networks from $210.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. One investment 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.45.

Arista Networks Trading Down 6.0%

ANET stock traded down $11.79 during mid-day trading on Thursday, reaching $183.63. 6,222,794 shares of the stock traded hands, compared to its average volume of 7,860,031. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41. The company has a market cap of $231.60 billion, a P/E ratio of 57.84, a P/E/G ratio of 2.38 and a beta of 1.60. The stock's fifty day moving average is $198.83 and its 200-day moving average is $173.87.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.83 billion. During the same period last year, the company posted $0.73 earnings per share. The business's revenue for the quarter 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 research analysts expect that Arista Networks, Inc. will post 3.79 earnings per share for the current year.

Insider Buying and Selling

In other 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 $36,826,381,658.40. This represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 on 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 trade represents a 4.47% decrease in their position. 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 sold a total of 3,627,449 shares of company stock valued at $740,784,723 in the last ninety days. Company insiders own 2.70% of the company's stock.

Arista Networks Company 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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