Adams Diversified Equity Fund Inc. Trims Position in Arista Networks, Inc. $ANET

Key Points

• Adams Diversified Equity Fund cut its stake in Arista Networks by 19.6% in the first quarter, selling 39,800 shares and leaving it with 163,764 shares worth about $20.1 million.
• Arista’s latest quarterly results were strong, with EPS of $0.87 and revenue of $2.71 billion, both above expectations; revenue also rose 35.1% year over year.
• Wall Street remains largely bullish on the stock, with a consensus rating of Buy and an average price target of $187.63, even though some analysts recently adjusted their ratings and targets.

Adams Diversified Equity Fund Inc. lowered its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,764 shares of the technology company's stock after selling 39,800 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Arista Networks were worth $20,107,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after buying an additional 5,955 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Arista Networks in the fourth quarter worth approximately $202,000. Bison Wealth LLC purchased a new stake in Arista Networks in the fourth quarter valued at approximately $251,000. Sivia Capital Partners LLC increased its position in Arista Networks by 48.4% during the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company's stock worth $1,097,000 after purchasing an additional 3,496 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Arista Networks by 31.3% during the second quarter. Gamco Investors INC. ET AL now owns 4,193 shares of the technology company's stock worth $429,000 after purchasing an additional 1,000 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Raymond James Financial upgraded Arista Networks from a "market perform" rating to an "outperform" rating and set a $164.00 target price for the company in a report on Friday, May 15th. TD Cowen restated a "buy" rating and issued a $200.00 price target (up from $170.00) on shares of Arista Networks in a report on Wednesday, May 6th. Needham & Company LLC reiterated a "buy" rating and set a $185.00 price objective on shares of Arista Networks in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities increased their price objective on shares of Arista Networks from $180.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Arista Networks presently has an average rating of "Buy" and a consensus target price of $187.63.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $157.80 on Friday. Arista Networks, Inc. has a 1 year low of $97.14 and a 1 year high of $179.80. The stock's 50-day simple moving average is $159.49 and its 200-day simple moving average is $142.71. The firm has a market cap of $198.70 billion, a price-to-earnings ratio of 54.04, a PEG ratio of 2.43 and a beta of 1.61.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. Arista Networks's revenue for the quarter was up 35.1% on a year-over-year basis. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, research analysts predict that Arista Networks, Inc. will post 3.27 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 17,333 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $171.42, for a total value of $2,971,222.86. Following the sale, the insider directly owned 12,976 shares of the company's stock, valued at $2,224,345.92. This represents a 57.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 260,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $165.57, for a total transaction of $43,048,200.00. Following the completion of the sale, the insider directly owned 182,543,048 shares of the company's stock, valued at $30,223,652,457.36. The trade was a 0.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,647,080 shares of company stock valued at $431,329,762. Corporate insiders own 2.70% of the company's stock.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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