HBK Sorce Advisory LLC Lowers Holdings in Arista Networks, Inc. $ANET

Key Points

• HBK Sorce Advisory reduced its Arista Networks stake by 27.3% in the second quarter, selling 7,407 shares and retaining 19,729 shares valued at approximately $3.35 million. Institutional investors collectively own 82.47% of the company.
• Arista reported quarterly earnings of $1.02 per share on $3.04 billion in revenue, exceeding analyst expectations, while revenue rose 37.7% year over year. The company guided for third-quarter EPS of $1.06–$1.08.
• ANET shares opened at $202.05, near their 12-month high, and analysts maintained a broadly positive outlook with an average “Buy” rating and a $226.05 price target. However, insiders sold approximately $798.6 million of stock over the past three months.

HBK Sorce Advisory LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,729 shares of the technology company's stock after selling 7,407 shares during the period. HBK Sorce Advisory LLC's holdings in Arista Networks were worth $3,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Continuum Advisory LLC increased its holdings in shares of Arista Networks by 6.9% in the second quarter. Continuum Advisory LLC now owns 4,819 shares of the technology company's stock worth $819,000 after purchasing an additional 311 shares during the period. J.Safra Asset Management Corp boosted its stake in Arista Networks by 21.6% during the second quarter. J.Safra Asset Management Corp now owns 8,061 shares of the technology company's stock valued at $1,369,000 after buying an additional 1,431 shares during the period. Global Retirement Partners LLC bought a new stake in Arista Networks during the second quarter valued at $4,707,000. Stonehaven Wealth & Tax Solutions LLC grew its position in Arista Networks by 10.0% during the second quarter. Stonehaven Wealth & Tax Solutions LLC now owns 3,189 shares of the technology company's stock worth $542,000 after buying an additional 291 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in Arista Networks during the second quarter worth about $214,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 1.6%

NYSE ANET opened at $202.05 on Tuesday. The stock's 50-day simple moving average is $175.00 and its two-hundred day simple moving average is $155.18. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89. The company has a market capitalization of $254.83 billion, a price-to-earnings ratio of 63.74, a PEG ratio of 2.06 and a beta of 1.60.

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

Insider Transactions at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $170.51, for a total transaction of $4,433,260.00. Following the transaction, the insider directly owned 462,400 shares of the company's stock, valued at approximately $78,843,824. This trade represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $181.02, for a total transaction of $1,448,160.00. Following the completion of the sale, the director owned 184,333 shares of the company's stock, valued at approximately $33,367,959.66. The trade was a 4.16% 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. Insiders sold 4,335,168 shares of company stock worth $798,637,629 in the last three months. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ANET shares. Piper Sandler reaffirmed an "overweight" rating and issued a $240.00 price target (up from $181.00) on shares of Arista Networks in a report on Wednesday, August 5th. Barclays reissued an "overweight" rating and set a $289.00 price objective (up from $195.00) on shares of Arista Networks in a report on Wednesday, August 5th. Weiss Ratings cut shares of Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Arista Networks from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Citigroup reiterated a "buy" rating on shares of Arista Networks in a research report on Thursday, August 6th. Two 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. Based on data from MarketBeat.com, Arista Networks has an average rating of "Buy" and an average price target of $226.05.

About Arista Networks

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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