Arista Networks, Inc. $ANET Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Arista Networks stake by 99.8% in the third quarter, selling 8.07 million shares and retaining 17,593 shares worth approximately $3.58 million. Institutional investors overall own 82.47% of the company.
• Arista shares fell 6.4% to $183.00, though the company reported quarterly revenue of $3.04 billion and EPS of $1.02, beating analyst expectations. Revenue increased 37.7% year over year.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $235.45; recent targets range from $220 to $289. Insiders, however, sold $740.8 million of stock during the last quarter.

Curated Wealth Partners LLC cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 99.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,593 shares of the technology company's stock after selling 8,073,864 shares during the period. Curated Wealth Partners LLC's holdings in Arista Networks were worth $3,582,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp increased its position in shares of 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 in the last quarter. Jupiter Topco LLC purchased a new position in shares of Arista Networks in the second quarter valued at $1,101,860,000. Envestnet Asset Management Inc. increased its stake in Arista Networks by 199.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company's stock worth $1,635,978,000 after buying an additional 6,409,612 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Arista Networks during the second quarter valued at about $537,736,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in 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 valued at $1,712,788,000 after purchasing an additional 2,497,275 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Trading Down 6.4%

ANET traded down $12.42 during trading on Thursday, hitting $183.00. The stock had a trading volume of 5,843,746 shares, compared to its average volume of 7,857,899. The firm has a market cap of $230.80 billion, a PE ratio of 57.82, a P/E/G ratio of 2.38 and a beta of 1.60. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $217.41. The company has a 50 day simple moving average of $198.83 and a 200-day simple moving average of $173.87.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business posted $0.73 EPS. The company's revenue for the quarter 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, sell-side analysts anticipate that Arista Networks, Inc. will post 3.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of several research analyst reports. Jefferies Financial Group set a $250.00 target price on shares of Arista Networks in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on Arista Networks in a research report on Monday, August 31st. They set a "buy" rating and a $220.00 price objective for the company. Erste Group Bank upgraded Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 15th. Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, Barclays reissued an "overweight" rating and issued a $289.00 price objective (up from $195.00) on shares of Arista Networks in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.45.

Insiders Place Their Bets

In other news, CFO Chantelle Breithaupt sold 1,224 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total value of $263,160.00. Following the transaction, the chief financial officer directly owned 68,697 shares in the company, valued at $14,769,855. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark B. Templeton sold 5,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $204.37, for a total value of $1,021,850.00. Following the sale, the director directly owned 48,410 shares in the company, valued at $9,893,551.70. The trade was a 9.36% 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. Insiders have sold 3,627,449 shares of company stock worth $740,784,723 in the last quarter. 2.70% of the stock is owned by corporate insiders.

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.

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