Diversify Advisory Services LLC Makes New $12.54 Million Investment in Arista Networks, Inc. $ANET

Diversify Advisory Services LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 73,447 shares of the technology company's stock, valued at approximately $12,542,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Wealthfront Advisers LLC increased its holdings in Arista Networks by 4.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 174,820 shares of the technology company's stock valued at $29,698,000 after purchasing an additional 7,744 shares in the last quarter. Timothy G. Youngquist 2020 Irrevocable Trust lifted its stake in shares of Arista Networks by 4,676.7% during the second quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 17,435 shares of the technology company's stock worth $2,962,000 after purchasing an additional 17,070 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Arista Networks by 1.5% in the second quarter. Meeder Advisory Services Inc. now owns 31,555 shares of the technology company's stock worth $5,361,000 after buying an additional 477 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Arista Networks by 71.4% in the second quarter. Meeder Asset Management Inc. now owns 790 shares of the technology company's stock worth $134,000 after buying an additional 329 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Arista Networks by 6.8% in the second quarter. Citizens Financial Group Inc. RI now owns 23,038 shares of the technology company's stock valued at $3,914,000 after buying an additional 1,461 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Activity at Arista Networks

In related news, major shareholder Andreas Bechtolsheim sold 111,848 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $192.75, for a total value of $21,558,702.00. Following the sale, the insider directly owned 109,833 shares of the company's stock, valued at $21,170,310.75. This represents a 50.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $181.02, for a total transaction of $1,448,160.00. Following the transaction, the director owned 184,333 shares in the company, valued at $33,367,959.66. This trade represents a 4.16% 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. Insiders have sold a total of 4,334,197 shares of company stock worth $798,500,786 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings downgraded Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price objective (up from $190.00) on shares of Arista Networks in a research report on Wednesday, August 5th. UBS Group reiterated a "buy" rating and set a $259.00 price objective (up from $187.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Wolfe Research restated an "outperform" rating and issued a $175.00 target price on shares of Arista Networks in a research note on Wednesday, June 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $240.00 price target (up from $181.00) on shares of Arista Networks in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Arista Networks presently has an average rating of "Buy" and a consensus price target of $226.05.

Arista Networks Stock Down 4.6%

Shares of NYSE ANET opened at $192.61 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $214.89. The business has a 50 day moving average price of $175.81 and a two-hundred day moving average price of $155.48. The firm has a market cap of $242.93 billion, a PE ratio of 60.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.Arista Networks's quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 3.7 earnings per share for the current year.

Arista Networks Profile

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.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source