Arista Networks, Inc. $ANET Shares Purchased by Gunderson Capital Management LLC

Key Points

• Gunderson Capital Management increased its Arista Networks stake by 15.8% in the third quarter, bringing its holdings to 69,661 shares valued at approximately $14.2 million.
• Institutional investors own 82.47% of Arista Networks, while several major funds—including State Street, Massachusetts Financial Services and Envestnet—also increased their positions.
• Analysts maintain a bullish outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $235.45, despite shares recently falling 6.1% to $183.42. Arista’s latest quarterly results also exceeded expectations, with revenue up 37.7% year over year.

Gunderson Capital Management LLC increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 15.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 69,661 shares of the technology company's stock after buying an additional 9,487 shares during the quarter. Arista Networks accounts for approximately 3.8% of Gunderson Capital Management LLC's portfolio, making the stock its 12th largest holding. Gunderson Capital Management LLC's holdings in Arista Networks were worth $14,182,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Arista Networks by 159.4% in the second quarter. State Street Corp now owns 121,303,125 shares of the technology company's stock worth $20,606,975,000 after acquiring an additional 74,541,134 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Arista Networks by 34.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company's stock worth $1,712,788,000 after buying an additional 2,497,275 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Arista Networks by 199.0% during the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company's stock valued at $1,635,978,000 after purchasing an additional 6,409,612 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Arista Networks by 4.3% in the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company's stock worth $1,589,651,000 after purchasing an additional 388,354 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Arista Networks by 5.9% in the second quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company's stock worth $1,433,951,000 after buying an additional 470,451 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ANET shares. Citigroup reaffirmed a "buy" rating and set a $248.00 price objective (up from $215.00) on shares of Arista Networks in a research report on Thursday, October 8th. TD Cowen upped their price target on shares of Arista Networks from $210.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on shares of Arista Networks in a report on Wednesday, September 30th. They set an "outperform" rating and a $250.00 price target on the stock. Jefferies Financial Group set a $250.00 price objective on Arista Networks in a research report on Wednesday, August 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $240.00 price objective (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Arista Networks currently has an average rating of "Moderate Buy" and an average price target of $235.45.

Insider Transactions at Arista Networks

In other news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider directly owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,627,449 shares of company stock valued at $740,784,723 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Trading Down 6.1%

Arista Networks stock traded down $12.00 during midday trading on Thursday, hitting $183.42. The stock had a trading volume of 6,047,001 shares, compared to its average volume of 7,858,619. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41. The firm's fifty day moving average is $198.83 and its two-hundred day moving average is $173.87. The company has a market capitalization of $231.34 billion, a PE ratio of 57.77, a P/E/G ratio of 2.38 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (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 firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter last year, the business posted $0.73 earnings per share. The firm's revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, equities research analysts predict that Arista Networks, Inc. will post 3.79 earnings per share for the current fiscal year.

About Arista Networks

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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