Arista Networks, Inc. $ANET Shares Purchased by Perpetual Ltd

Key Points

• Perpetual Ltd increased its Arista Networks stake by 964.3% in the third quarter, bringing its holdings to 153,149 shares valued at approximately $31.18 million. Institutional investors and hedge funds collectively own 82.47% of the company.
• Arista insiders sold 3.47 million shares worth approximately $706.4 million over the past 90 days, including substantial sales by major shareholder Andreas Bechtolsheim and CEO Jayshree Ullal under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus and an average price target of $235.45. The company recently exceeded quarterly earnings and revenue estimates, reporting $1.02 EPS and $3.04 billion in revenue, up 37.7% year over year.

Perpetual Ltd raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 964.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 153,149 shares of the technology company's stock after acquiring an additional 138,759 shares during the period. Perpetual Ltd's holdings in Arista Networks were worth $31,180,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. JGP Wealth Management LLC bought a new position in Arista Networks during the 3rd quarter worth approximately $255,000. RTD Financial Advisors Inc. bought a new position in shares of Arista Networks during the third quarter worth $358,000. Gallagher Capital Advisors LLC bought a new position in shares of Arista Networks during the third quarter worth $3,256,000. Armstrong Advisory Group Inc. grew its holdings in shares of Arista Networks by 23.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,550 shares of the technology company's stock valued at $316,000 after buying an additional 298 shares during the period. Finally, Marquette Asset Management LLC increased its position in shares of Arista Networks by 10,000.0% in the 3rd quarter. Marquette Asset Management LLC now owns 1,414 shares of the technology company's stock valued at $288,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insiders Place Their Bets

In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the completion of the transaction, the insider owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. This represents a 0.17% decrease in their position. The transaction was disclosed in a document filed 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, CEO Jayshree Ullal sold 767,029 shares of Arista Networks stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the sale, the chief executive officer directly owned 16,387,981 shares in the company, valued at $3,297,589,536.82. This represents a 4.47% 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. Over the last ninety days, insiders sold 3,468,906 shares of company stock valued at $706,366,437. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

ANET has been the topic of several research analyst reports. 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 note on Wednesday, August 5th. Rosenblatt Securities boosted their target price on Arista Networks from $210.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $255.00 target price (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Needham & Company LLC restated a "buy" rating and issued a $260.00 price target (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, Erste Group Bank raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $235.45.

Arista Networks Stock Down 2.8%

Arista Networks stock opened at $210.72 on Tuesday. The stock has a market capitalization of $265.76 billion, a PE ratio of 66.47, a price-to-earnings-growth ratio of 2.52 and a beta of 1.60. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The company has a 50 day moving average of $198.62 and a 200-day moving average of $172.87.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business posted $0.73 earnings per share. The firm's quarterly 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. Equities analysts anticipate that Arista Networks, Inc. will post 3.78 EPS 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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