Arista Networks, Inc. $ANET Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners boosted its Arista Networks stake by 261.6% in the first quarter, ending with 23,634 shares valued at about $2.9 million.
• Insiders have been selling shares, including director Charles H. Giancarlo and insider Kenneth Duda, with company insiders selling 2.64 million shares worth about $430.3 million over the last three months.
• Wall Street remains bullish on ANET, with an average analyst rating of “Buy” and an average price target of $187.63, while the company also recently beat quarterly earnings and revenue estimates.

Elevation Point Wealth Partners LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 261.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,634 shares of the technology company's stock after buying an additional 17,098 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Arista Networks were worth $2,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lighthouse Financial Services Inc. ADV acquired a new stake in Arista Networks during the fourth quarter worth $1,549,000. Bensler LLC purchased a new stake in Arista Networks in the fourth quarter valued at $6,350,000. QRG Capital Management Inc. lifted its stake in shares of Arista Networks by 6.4% in the 4th quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company's stock valued at $22,224,000 after purchasing an additional 10,217 shares during the last quarter. Reaves W H & Co. Inc. acquired a new position in shares of Arista Networks in the 4th quarter valued at $3,058,000. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Arista Networks by 59.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company's stock worth $2,309,000 after purchasing an additional 6,591 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $169.09, for a total value of $1,352,720.00. Following the transaction, the director owned 200,333 shares of the company's stock, valued at $33,874,306.97. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of the 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 completion of the transaction, the insider directly owned 12,976 shares in the company, valued at $2,224,345.92. This trade represents a 57.19% 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 sold 2,639,080 shares of company stock worth $430,322,162. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. TD Cowen reissued a "buy" rating and set a $200.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating and issued a $190.00 target price (up from $180.00) on shares of Arista Networks in a research report on Friday, June 12th. Wolfe Research reaffirmed an "outperform" rating and set a $175.00 target price on shares of Arista Networks in a research note on Wednesday, June 10th. Piper Sandler reiterated an "overweight" rating and set a $181.00 price target (up from $175.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Finally, KeyCorp reissued an "overweight" rating and issued a $200.00 price target (up from $178.00) on shares of Arista Networks in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks currently has an average rating of "Buy" and an average price target of $187.63.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $160.38 on Friday. The business has a 50-day simple moving average of $159.07 and a 200-day simple moving average of $143.91. Arista Networks, Inc. has a one year low of $100.33 and a one year high of $179.80. The company has a market cap of $201.95 billion, a PE ratio of 54.93, a P/E/G ratio of 2.47 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 net margin of 38.32% and a return on equity of 30.10%. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm's revenue was up 35.1% compared to the same quarter last year. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, sell-side analysts predict that Arista Networks, Inc. will post 3.27 earnings per share for the current fiscal year.

Arista Networks Company 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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