Arista Networks, Inc. $ANET Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its stake in Arista Networks by 3.8% in the first quarter, selling 12,724 shares and ending with 324,424 shares valued at about $39.8 million.
• Arista Networks reported strong quarterly results, with EPS of $0.87 topping estimates and revenue of $2.71 billion exceeding expectations. Revenue rose 35.1% year over year, and the company guided Q2 2026 EPS to 0.880.
• Analysts remain bullish on ANET, with multiple firms raising price targets and the Street’s average target at $187.63. The stock also saw insider selling, including notable sales by the CFO and CEO under pre-arranged trading plans.

Park National Corp OH lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 324,424 shares of the technology company's stock after selling 12,724 shares during the period. Arista Networks makes up approximately 1.2% of Park National Corp OH's investment portfolio, making the stock its 20th largest position. Park National Corp OH's holdings in Arista Networks were worth $39,833,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Arista Networks during the fourth quarter worth $1,558,563,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Arista Networks by 82.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company's stock worth $1,396,939,000 after buying an additional 4,332,659 shares during the period. M&T Bank Corp grew its stake in shares of Arista Networks by 3,182.7% in the fourth quarter. M&T Bank Corp now owns 4,012,373 shares of the technology company's stock valued at $525,741,000 after buying an additional 3,890,146 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Arista Networks by 59.3% in the fourth quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company's stock valued at $1,032,302,000 after buying an additional 2,934,098 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Arista Networks by 310.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,280,122 shares of the technology company's stock valued at $298,868,000 after buying an additional 1,724,758 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $169.84 on Friday. The stock's 50-day moving average is $158.10 and its two-hundred day moving average is $141.44. Arista Networks, Inc. has a 1-year low of $85.58 and a 1-year high of $179.80. The company has a market cap of $213.86 billion, a price-to-earnings ratio of 58.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.61.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The business had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter last year, the business posted $0.65 EPS. The business's quarterly 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. Equities research analysts anticipate that Arista Networks, Inc. will post 3.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ANET shares. Morgan Stanley reissued an "overweight" rating and set a $190.00 target price (up from $180.00) on shares of Arista Networks in a research note on Friday, June 12th. Piper Sandler reaffirmed an "overweight" rating and issued a $181.00 target price (up from $175.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Wolfe Research reiterated an "outperform" rating and set a $175.00 price target on shares of Arista Networks in a research note on Wednesday, June 10th. TD Cowen reissued a "buy" rating and set a $200.00 price target (up from $170.00) on shares of Arista Networks in a research report on Wednesday, May 6th. Finally, Citigroup lowered their price objective on shares of Arista Networks from $176.00 to $173.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of "Buy" and an average price target of $187.63.

Insider Activity

In related news, CFO Chantelle Yvette Breithaupt sold 2,448 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $157.00, for a total value of $384,336.00. Following the sale, the chief financial officer owned 64,408 shares of the company's stock, valued at $10,112,056. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 13,809 shares of Arista Networks stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.04, for a total transaction of $2,140,947.36. Following the completion of the transaction, the chief executive officer owned 9,917 shares of the company's stock, valued at $1,537,531.68. This represents a 58.20% 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. In the last three months, insiders sold 2,603,747 shares of company stock valued at $423,901,619. 2.70% of the stock is owned by corporate insiders.

About Arista Networks

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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