Congress Asset Management Co. Sells 127,139 Shares of Arista Networks, Inc. $ANET

Key Points

• Congress Asset Management reduced its Arista Networks stake by 10.8%, selling 127,139 shares and retaining 1,049,467 shares valued at approximately $213.7 million.
• Institutional investors own 82.47% of Arista, with State Street, Massachusetts Financial Services, and Envestnet among the firms that increased their positions.
• Arista reported stronger-than-expected quarterly results, including $3.04 billion in revenue and $1.02 in EPS, while analysts maintain a consensus “Buy” rating and a $231.70 price target.

Congress Asset Management Co. lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 10.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,049,467 shares of the technology company's stock after selling 127,139 shares during the period. Arista Networks comprises about 1.4% of Congress Asset Management Co.'s portfolio, making the stock its 8th biggest holding. Congress Asset Management Co. owned about 0.08% of Arista Networks worth $213,661,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp raised its stake in Arista Networks by 159.4% during 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. Massachusetts Financial Services Co. MA increased its position in 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 purchasing an additional 2,497,275 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Arista Networks by 199.0% in the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company's stock valued at $1,635,978,000 after buying an additional 6,409,612 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Arista Networks by 3.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,528,887 shares of the technology company's stock worth $1,248,570,000 after buying an additional 287,385 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings 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 buying an additional 388,354 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

NYSE ANET traded up $8.60 on Tuesday, reaching $215.50. The company had a trading volume of 6,968,945 shares, compared to its average volume of 7,951,314. The firm has a market cap of $271.79 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 2.44 and a beta of 1.60. Arista Networks, Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $216.07. The business has a 50 day moving average of $194.51 and a two-hundred day moving average of $170.06.

Arista Networks (NYSE:ANET - Get Free Report) last announced its 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 firm 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 earned $0.73 EPS. The business's quarterly 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. As a group, research analysts predict that Arista Networks, Inc. will post 3.74 earnings per share for the current fiscal year.

Key Arista Networks News

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

• Positive Sentiment: Growing AI-related data-center spending is supporting demand for Arista’s high-speed Ethernet switching and networking products. Arista advanced alongside Cisco and Ciena, with the broader networking group benefiting from expectations for sustained hyperscaler and AI infrastructure investment. AI networking demand article
• Positive Sentiment: Bernstein began coverage of Arista with an Outperform rating, adding to an already bullish analyst backdrop. MarketBeat data cited a consensus “Buy” rating and an average price target of $231.70, while recent firms have raised targets following Arista’s strong results and outlook. Bernstein coverage article
• Positive Sentiment: Investor confidence is also supported by Arista’s recent operating performance: quarterly revenue rose 37.7% year over year to $3.04 billion, exceeding estimates, while EPS surpassed consensus. Prior guidance highlighted $12.6 billion of 2026 revenue, including at least $3.5 billion from AI-related business, and the company has approximately $13.3 billion in cash with no debt.
• Neutral Sentiment: Arista will report third-quarter 2026 results after the market closes on November 3, followed by a management conference call. The announcement gives investors a defined near-term catalyst, with results and updated commentary on AI demand likely to influence the next move. Q3 2026 results announcement
• Negative Sentiment: Director Mark Templeton sold 5,000 shares worth approximately $1.02 million. Because the transaction occurred under a pre-arranged Rule 10b5-1 plan, it may be less concerning than discretionary selling, but it nevertheless represents a 9.36% reduction in his direct holdings.

Insider Activity at Arista Networks

In other news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the transaction, the insider owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. The trade was a 0.17% 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, CEO Jayshree Ullal sold 767,029 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the completion of the sale, the chief executive officer directly owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,387,316 shares of company stock valued at $676,926,570. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent research reports. Jefferies Financial Group set a $250.00 price objective on Arista Networks in a report on Wednesday, August 5th. Sanford C. Bernstein began coverage on Arista Networks in a research note on Wednesday, September 30th. They set an "outperform" rating and a $250.00 price target on the stock. UBS Group restated a "buy" rating and set a $259.00 price target (up from $187.00) on shares of Arista Networks in a report on Wednesday, August 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $240.00 price objective (up from $181.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $231.70.

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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