Arista Networks, Inc. $ANET Holdings Raised by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Arista Networks in the fourth quarter, increasing holdings by 105.1% to 80,179 shares worth about $10.5 million.
• Arista Networks reported strong quarterly results, with EPS of $0.87 beating estimates and revenue of $2.71 billion topping expectations; revenue rose 35.1% year over year.
• Analyst sentiment remains bullish, with a consensus Buy rating and an average price target of $181.84, while the stock last traded at $153.92.

Allstate Corp lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 105.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,179 shares of the technology company's stock after purchasing an additional 41,088 shares during the quarter. Allstate Corp's holdings in Arista Networks were worth $10,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Knuff & Co LLC bought a new stake in shares of Arista Networks during the third quarter valued at about $29,000. Board of the Pension Protection Fund bought a new stake in Arista Networks in the fourth quarter worth about $26,000. Quarry LP bought a new stake in Arista Networks in the third quarter worth about $33,000. Ameliora Wealth Management Ltd. bought a new stake in Arista Networks in the fourth quarter worth about $30,000. Finally, Ares Financial Consulting LLC bought a new stake in Arista Networks in the fourth quarter worth about $34,000. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Kenneth Duda sold 32,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $163.31, for a total value of $5,225,920.00. Following the completion of the sale, the insider owned 12,976 shares of the company's stock, valued at approximately $2,119,110.56. The trade was a 71.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 428,000 shares of the business's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $177.44, for a total value of $75,944,320.00. Following the completion of the sale, the chief executive officer directly owned 5,209,207 shares of the company's stock, valued at approximately $924,321,690.08. The trade was a 7.59% 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 ninety days, insiders have sold 1,503,278 shares of company stock worth $246,655,981. Company insiders own 2.70% of the company's stock.

Arista Networks Trading Down 0.1%

Shares of ANET opened at $153.92 on Tuesday. Arista Networks, Inc. has a 1-year low of $83.86 and a 1-year high of $179.80. The business's 50-day moving average price is $145.75 and its 200 day moving average price is $137.05. The stock has a market capitalization of $193.82 billion, a P/E ratio of 52.71, a P/E/G ratio of 2.37 and a beta of 1.67.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The business'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. On average, research analysts predict that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $181.00 price target (up from $175.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Raymond James Financial upgraded shares of Arista Networks from a "market perform" rating to an "outperform" rating and set a $164.00 price target on the stock in a research report on Friday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $185.00 price target on shares of Arista Networks in a research report on Wednesday, May 6th. Evercore reiterated an "outperform" rating and issued a $200.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Finally, KeyCorp reissued an "overweight" rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Arista Networks has a consensus rating of "Buy" and an average price target of $181.84.

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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