Arista Networks, Inc. $ANET Shares Bought by Legacy Wealth Asset Management LLC

Key Points

• Legacy Wealth Asset Management increased its Arista Networks position by 284.2% in the third quarter, owning 30,708 shares valued at approximately $6.25 million. Institutional investors and hedge funds collectively hold 82.47% of ANET shares.
• Analysts maintain a generally bullish outlook, with a consensus rating of “Moderate Buy” and an average price target of $235.45. Recent target increases included KeyCorp at $250 and Citigroup at $248, although Weiss Ratings downgraded the stock to “hold.”
• Arista reported strong quarterly momentum, with revenue up 37.7% year over year to $3.04 billion and EPS of $1.02 exceeding estimates. However, CEO Jayshree Ullal sold about $97.6 million of stock under a pre-arranged plan, while the shares’ elevated P/E ratio near 67 highlights the need for sustained AI-driven growth.

Legacy Wealth Asset Management LLC raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 284.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,708 shares of the technology company's stock after purchasing an additional 22,715 shares during the quarter. Arista Networks accounts for approximately 1.3% of Legacy Wealth Asset Management LLC's portfolio, making the stock its 14th largest holding. Legacy Wealth Asset Management LLC's holdings in Arista Networks were worth $6,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cura Wealth Advisors LLC raised its holdings in Arista Networks by 3.1% in 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. Madison Wealth Partners Inc grew its stake in Arista Networks by 2.8% during the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company's stock worth $370,000 after buying an additional 60 shares during the period. Intrua Financial LLC grew its stake in Arista Networks by 2.7% during the first quarter. Intrua Financial LLC now owns 2,307 shares of the technology company's stock worth $283,000 after buying an additional 61 shares during the period. Shepherd Financial Partners LLC increased its position in shares of Arista Networks by 1.2% in the second quarter. Shepherd Financial Partners LLC now owns 5,403 shares of the technology company's stock worth $918,000 after acquiring an additional 66 shares in the last quarter. Finally, NBT Bank N A NY raised its stake in shares of Arista Networks by 37.2% in the 1st quarter. NBT Bank N A NY now owns 247 shares of the technology company's stock valued at $30,000 after acquiring an additional 67 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $225.00 price target on shares of Arista Networks in a research report on Wednesday, August 5th. Weiss Ratings cut Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Truist Financial upped 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. KeyCorp reaffirmed an "overweight" rating and issued a $250.00 target price (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Citigroup reiterated a "buy" rating and issued a $248.00 target price (up from $215.00) on shares of Arista Networks in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.45.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 460,374 shares of Arista Networks stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $212.09, for a total value of $97,640,721.66. Following the completion of the sale, the chief executive officer owned 4,811,207 shares in the company, valued at approximately $1,020,408,892.63. The trade was a 8.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chantelle Breithaupt sold 1,224 shares of the company's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $215.00, for a total transaction of $263,160.00. Following the completion of the sale, the chief financial officer directly owned 68,697 shares in the company, valued at $14,769,855. This represents a 1.75% decrease in their ownership of the stock. 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 3,371,914 shares of company stock valued at $685,305,594. Corporate insiders own 2.70% of the company's stock.

Key Headlines Impacting Arista Networks

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista launched an open Ethernet rack-scale portfolio for high-density AI infrastructure. The systems support scale-up and scale-out architectures, liquid-cooled deployments and improved resiliency, potentially expanding Arista’s role in hyperscale data centers. Partners include AMD, Arm, Broadcom, Meta, Microsoft and Qualcomm. Arista Announces Rack-Scale Architectures for Scale-Up and Scale-Out AI Fabrics
• Positive Sentiment: Investment commentary continues to identify ANET as a potential beneficiary of accelerating AI infrastructure spending. Arista’s open, interoperable Ethernet technology could benefit as cloud providers seek alternatives to proprietary networking systems and reduce dependence on a single vendor. Arista Networks Could Be a Key Winner From the AI Infrastructure Boom
• Positive Sentiment: The company’s latest results reinforce the growth narrative: revenue rose 37.7% year over year to $3.04 billion and EPS of $1.02 exceeded the $0.89 consensus estimate. Management’s quarterly EPS outlook of $1.06 to $1.08 also points to continued momentum.
• Neutral Sentiment: Arista’s CFO sold 1,224 shares for approximately $263,000 under a pre-arranged Rule 10b5-1 plan, reducing her direct ownership by 1.75%. Because the sale was scheduled in advance and she retains a substantial stake, the transaction is a limited sentiment concern. Arista Networks CFO Insider Sale
• Negative Sentiment: CEO Jayshree Ullal sold roughly 460,000 shares valued at $97.6 million, also through a pre-arranged plan. She still owns approximately 4.8 million shares, but the large transaction may weigh on investor sentiment. Arista Networks Plugs Into All-Time Highs
• Negative Sentiment: With a P/E ratio near 67, investors are demanding sustained AI-driven growth. Customer concentration, possible margin pressure and a recent Zacks downgrade from “strong buy” to “hold” create near-term downside risks. Arista Networks Rating Downgrade

Arista Networks Price Performance

Shares of Arista Networks stock opened at $210.88 on Friday. The business has a 50-day moving average of $197.40 and a 200-day moving average of $171.74. The company has a market capitalization of $265.97 billion, a PE ratio of 66.53, a P/E/G ratio of 2.54 and a beta of 1.60. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-year high of $217.32.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly 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 return on equity of 30.65% and a net margin of 38.37%.The business 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 earnings per share. The company's revenue was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 3.74 earnings per share for the current fiscal year.

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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