Arista Networks, Inc. $ANET Shares Purchased by RDA Financial Network

Key Points

• RDA Financial Network increased its Arista Networks stake by 22.6% in the third quarter, bringing its holdings to 38,039 shares worth approximately $7.74 million. Institutional investors own 82.47% of the company.
• Arista insiders have been selling shares, including CEO Jayshree Ullal’s sale of 130,553 shares for approximately $28.3 million. Insiders sold $740.8 million worth of stock over the past 90 days.
• ANET shares fell 5.9% to $183.81, despite strong recent earnings that exceeded estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $235.45.

RDA Financial Network raised its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 22.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,039 shares of the technology company's stock after acquiring an additional 7,007 shares during the quarter. Arista Networks comprises approximately 1.6% of RDA Financial Network's holdings, making the stock its 13th largest position. RDA Financial Network's holdings in Arista Networks were worth $7,744,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Main Street Group LTD bought a new position in Arista Networks during the first quarter valued at about $26,000. Sankala Group LLC bought a new stake in shares of Arista Networks during the 4th quarter worth about $27,000. ABS Investment Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth about $29,000. ABS Direct Equity Fund LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth about $29,000. Finally, Hilton Head Capital Partners LLC increased its holdings in shares of Arista Networks by 184.9% during the 1st quarter. Hilton Head Capital Partners LLC now owns 245 shares of the technology company's stock valued at $30,000 after acquiring an additional 159 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Mark Templeton sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $204.37, for a total transaction of $1,021,850.00. Following the completion of the sale, the director owned 48,410 shares in the company, valued at $9,893,551.70. This represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 130,553 shares of the firm's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $217.10, for a total value of $28,343,056.30. Following the completion of the sale, the chief executive officer directly owned 4,774,691 shares in the company, valued at $1,036,585,416.10. This trade represents a 2.66% 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 have sold 3,627,449 shares of company stock worth $740,784,723 over the last 90 days. Company insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ANET shares. Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings lowered Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, October 6th. Evercore reaffirmed an "outperform" rating on shares of Arista Networks in a research report on Wednesday, October 7th. Rosenblatt Securities increased their price target on Arista Networks from $210.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $225.00 price target 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 assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $235.45.

Arista Networks Stock Down 5.9%

ANET stock traded down $11.61 during mid-day trading on Thursday, reaching $183.81. 6,222,794 shares of the stock traded hands, compared to its average volume of 7,860,031. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $217.41. The business has a 50-day moving average of $198.83 and a two-hundred day moving average of $173.87. The firm has a market capitalization of $231.82 billion, a PE ratio of 57.84, a P/E/G ratio of 2.38 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. The firm's revenue was up 37.7% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, equities research analysts anticipate that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

Arista Networks 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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.