Arista Networks, Inc. $ANET Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Holdings

Key Points

• Virginia Retirement Systems reduced its Arista Networks stake by 3.1%, selling 15,800 shares and retaining 492,764 shares valued at approximately $100.3 million. Institutional investors collectively own 82.47% of the company.
• Arista reported quarterly EPS of $1.02, beating estimates of $0.89, while revenue rose 37.7% year over year to $3.04 billion. The company issued Q3 2026 EPS guidance of $1.06–$1.08.
• Wall Street remains broadly positive, with an average “Buy” rating and a $233.20 price target, although insiders have sold 3.63 million shares worth about $741.2 million over the past 90 days.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 492,764 shares of the technology company's stock after selling 15,800 shares during the quarter. Arista Networks comprises approximately 0.6% of VIRGINIA RETIREMENT SYSTEMS ET Al's investment portfolio, making the stock its 24th biggest holding. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Arista Networks were worth $100,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ANET. State Street Corp increased its stake 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 valued at $20,606,975,000 after purchasing an additional 74,541,134 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 worth $1,712,788,000 after purchasing an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of 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 worth $1,635,978,000 after purchasing an additional 6,409,612 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Arista Networks by 4.3% during the second 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 position in shares of Arista Networks by 5.9% during 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 purchasing an additional 470,451 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Performance

Shares of ANET opened at $168.63 on Friday. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The firm's 50 day moving average price is $195.18 and its two-hundred day moving average price is $164.70. The firm has a market cap of $212.68 billion, a P/E ratio of 53.20, a PEG ratio of 2.14 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data 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 net margin of 38.37% and a return on equity of 30.65%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The firm's revenue was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 3.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANET. Zacks Research lowered shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Citigroup reaffirmed a "buy" rating and set a $248.00 price objective (up from $215.00) on shares of Arista Networks in a research note on Thursday, October 8th. BNP Paribas Exane upgraded Arista Networks to a "strong-buy" rating in a report on Wednesday, October 14th. Barclays reissued an "overweight" rating and issued a $289.00 target price (up from $195.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein initiated coverage on Arista Networks in a research note on Wednesday, September 30th. They issued an "outperform" rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $233.20.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 17,333 shares of the company's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $180.91, for a total value of $3,135,713.03. Following the completion of the transaction, the insider directly owned 12,976 shares of the company's stock, valued at approximately $2,347,488.16. This represents a 57.19% decrease in their position. The sale 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, Director Mark Templeton sold 5,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 48,410 shares of the company's stock, valued at approximately $9,893,551.70. The trade was a 9.36% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 3,627,449 shares of company stock valued at $741,235,386. 2.70% of the stock is owned by insiders.

More Arista Networks News

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista’s leadership in high-speed networking for hyperscale cloud and artificial-intelligence data centers remains a key investment argument. A comparison with Figma highlights Arista’s established infrastructure position, while Figma is still expanding its collaborative design platform and generative-AI tools. Arista Networks vs. Figma: Which Technology Stock Is a Better Buy in 2026?
• Positive Sentiment: Analysts and market commentary continue to point to accelerating AI infrastructure investment as a long-term growth driver. One valuation analysis suggests ANET could be roughly 23% undervalued if its AI-related outlook and product expansion are realized. Arista Networks Could Be 23% Undervalued Following Its AI Infrastructure Outlook
• Positive Sentiment: Arista was included among high-return-on-equity stocks positioned to benefit from the AI-driven market rally, reinforcing its reputation for strong profitability and capital efficiency. 5 Stocks With High ROE to Bet on as AI-Infused Rally Spurs Markets
• Neutral Sentiment: The global AI data-center market is forecast to expand substantially through 2036, offering a favorable industry backdrop for Arista, although the report covers many competing equipment and infrastructure suppliers. Global AI Data Center Market Size, Share, Trends, and Forecast
• Negative Sentiment: Investors appear cautious ahead of earnings: shares have pulled back nearly 10% over the past month and roughly 20% from their high as profit-taking and valuation concerns increase the risk of disappointment. Arista trades at a premium multiple, leaving limited room for weaker guidance or supply-chain issues. Down 20% From Highs, Is Arista Networks a Genius Buy or a Trap Before Earnings?
• Negative Sentiment: Recent trading coverage noted ANET underperformed the broader market, while attention on a Prometheus networking deployment adds another near-term execution and product-adoption uncertainty. Arista Networks Stocks Move Lower With Prometheus Networking Deployment in Focus

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company's products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista's portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.

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