Boltwood Capital Management Acquires 5,520 Shares of Arista Networks, Inc. $ANET

Key Points

• Boltwood Capital Management initiated a position in Arista Networks by purchasing 5,520 shares valued at approximately $1.12 million. Institutional investors collectively own 82.47% of the company.
• Arista’s CEO Jayshree Ullal and major shareholder Andreas Bechtolsheim sold shares worth a combined roughly $215 million under pre-arranged Rule 10b5-1 plans. Insiders sold 3.38 million shares valued at approximately $675.9 million over the past 90 days.
• Arista reported quarterly earnings and revenue above analyst expectations, with revenue rising 37.7% year over year. Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $231.70.

Boltwood Capital Management bought a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,520 shares of the technology company's stock, valued at approximately $1,124,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. ABS Investment Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth about $29,000. ABS Direct Equity Fund LLC acquired a new position in shares of Arista Networks in the second quarter valued at approximately $29,000. Kelleher Financial Advisors acquired a new position in shares of Arista Networks in the second quarter valued at approximately $31,000. Cornerstone Financial Management LLC increased its stake in Arista Networks by 61.9% during the 2nd quarter. Cornerstone Financial Management LLC now owns 183 shares of the technology company's stock worth $31,000 after buying an additional 70 shares during the period. Finally, Sankala Group LLC purchased a new stake in Arista Networks during the 4th quarter worth approximately $27,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total value of $154,341,575.38. Following the transaction, the chief executive officer owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider owned 181,143,048 shares of the company's stock, valued at approximately $36,826,381,658.40. The trade was a 0.17% 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. Over the last ninety days, insiders have sold 3,382,316 shares of company stock valued at $675,904,720. Insiders own 2.70% of the company's stock.

Arista Networks Stock Performance

Shares of NYSE:ANET traded up $3.01 during trading hours on Friday, reaching $207.50. The stock had a trading volume of 4,145,132 shares, compared to its average volume of 7,979,751. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $214.89. The firm's 50 day moving average is $193.11 and its 200-day moving average is $169.03. The stock has a market capitalization of $261.70 billion, a price-to-earnings ratio of 65.46, a P/E/G ratio of 2.39 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The company's revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Analysts forecast that Arista Networks, Inc. will post 3.74 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup reissued a "buy" rating on shares of Arista Networks in a research report on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and set a $259.00 price objective (up from $187.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Jefferies Financial Group set a $250.00 price objective on Arista Networks in a research note on Wednesday, August 5th. The Goldman Sachs Group reissued a "buy" rating and set a $225.00 target price on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, Truist Financial upped their price target on Arista Networks from $175.00 to $234.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of "Buy" and an average price target of $231.70.

Arista Networks Company 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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