Arista Networks, Inc. $ANET Stock: WealthPlan Investment Management LLC Raises Position

WealthPlan Investment Management LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 19.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,048 shares of the technology company's stock after acquiring an additional 5,492 shares during the period. WealthPlan Investment Management LLC's holdings in Arista Networks were worth $6,728,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Arista Networks by 159.4% during the 2nd 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 2nd quarter valued at about $1,101,860,000. Envestnet Asset Management Inc. raised its position in shares of 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 acquiring an additional 6,409,612 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Arista Networks during the 2nd quarter worth about $537,736,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Arista Networks by 34.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company's stock worth $1,712,788,000 after acquiring an additional 2,497,275 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm's 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 transaction, the insider owned 181,143,048 shares of the company's stock, valued at $36,826,381,658.40. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 the business's 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 transaction, the chief executive officer owned 16,387,981 shares in the company, valued at $3,297,589,536.82. This trade represents a 4.47% 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 have sold 3,627,449 shares of company stock worth $740,784,723. Corporate insiders own 2.70% of the company's stock.

Arista Networks Stock Down 6.2%

NYSE:ANET traded down $12.12 during trading hours on Thursday, reaching $183.30. 5,843,746 shares of the company's stock were exchanged, compared to its average volume of 7,857,899. The firm has a market capitalization of $231.18 billion, a price-to-earnings ratio of 57.82, a P/E/G ratio of 2.38 and a beta of 1.60. The company has a 50-day moving average of $198.83 and a 200 day moving average of $173.87. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-year high of $217.41.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, beating 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 company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business posted $0.73 earnings per share. Arista Networks'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. Research analysts forecast that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ANET. Weiss Ratings cut Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, October 6th. UBS Group reiterated a "buy" rating and issued a $259.00 price target (up from $187.00) on shares of Arista Networks in a research note on Wednesday, August 5th. KeyCorp reissued an "overweight" rating and set a $250.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Piper Sandler restated an "overweight" rating and set a $240.00 price objective (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $250.00 target price on shares of Arista Networks in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $235.45.

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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