Geode Capital Management LLC Raises Holdings in Arista Networks, Inc. $ANET

Key Points

• Geode Capital Management increased its stake in Arista Networks by 1.8% in the fourth quarter, ending with 26.45 million shares valued at about $3.46 billion. The firm now owns 2.10% of the company.
• Wall Street remains broadly bullish on Arista Networks, with analysts including TD Cowen, Goldman Sachs, and Susquehanna issuing positive ratings. The stock has a consensus Buy rating and an average target price of $185.72.
• Arista reported strong quarterly results, with EPS of $0.87 and revenue of $2.71 billion, both above expectations. Revenue rose 35.1% from a year earlier, though some insiders recently sold shares under pre-arranged trading plans.

Geode Capital Management LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,447,629 shares of the technology company's stock after acquiring an additional 477,625 shares during the quarter. Geode Capital Management LLC owned 2.10% of Arista Networks worth $3,455,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Knuff & Co LLC bought a new position in Arista Networks during the 3rd quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in Arista Networks during the 4th quarter valued at approximately $26,000. Quarry LP bought a new position in Arista Networks during the 3rd quarter valued at approximately $33,000. Ameliora Wealth Management Ltd. bought a new position in Arista Networks during the 4th quarter valued at approximately $30,000. Finally, Ares Financial Consulting LLC bought a new position in Arista Networks during the 4th quarter valued at approximately $34,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Cowen reiterated a "buy" rating and set a $200.00 target price (up from $170.00) on shares of Arista Networks in a report on Wednesday, May 6th. Citigroup reduced their target price on Arista Networks from $176.00 to $173.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Evercore reiterated an "outperform" rating and set a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group reiterated a "buy" rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Susquehanna upgraded Arista Networks to a "strong-buy" rating in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $185.72.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $146.44, for a total transaction of $61,797.68. Following the sale, the director directly owned 10,078 shares of the company's stock, valued at $1,475,822.32. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 971 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $140.93, for a total value of $136,843.03. Following the sale, the director directly owned 9,784 shares in the company, valued at approximately $1,378,859.12. This represents a 9.03% decrease in their ownership of the stock. 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 quarter, insiders sold 1,706,885 shares of company stock valued at $277,584,100. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET stock opened at $154.17 on Thursday. Arista Networks, Inc. has a fifty-two week low of $83.86 and a fifty-two week high of $179.80. The business's 50-day moving average is $146.62 and its two-hundred day moving average is $137.31. The company has a market cap of $194.13 billion, a price-to-earnings ratio of 52.80, a P/E/G ratio of 2.43 and a beta of 1.67.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same period last year, the firm earned $0.65 EPS. Arista Networks's revenue for the quarter was up 35.1% compared to the same quarter last year. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. Equities analysts predict that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Arista Networks Company 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.

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