Iams Wealth Management LLC Buys 32,945 Shares of Arista Networks, Inc. $ANET

Key Points

• Iams Wealth Management bought 32,945 Arista Networks shares worth approximately $6.7 million, making ANET its 10th-largest holding. Institutional investors collectively own 82.47% of the company.
• Arista insiders sold 3.63 million shares valued at about $740.8 million over the past 90 days, including sales by a director and the CFO under pre-arranged Rule 10b5-1 plans.
• Wall Street remains bullish, with a consensus “Moderate Buy” rating and an average price target of $235.45. The company recently beat earnings and revenue expectations, reporting 37.7% year-over-year revenue growth.

Iams Wealth Management LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 32,945 shares of the technology company's stock, valued at approximately $6,707,000. Arista Networks comprises 1.9% of Iams Wealth Management LLC's holdings, making the stock its 10th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Arista Networks by 159.4% during the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company's stock worth $20,606,975,000 after buying an additional 74,541,134 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Arista Networks in the second quarter valued at about $1,101,860,000. Envestnet Asset Management Inc. increased its position in shares of 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 acquiring an additional 6,409,612 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Arista Networks in the second quarter valued at about $537,736,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Arista Networks by 34.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company's stock worth $1,712,788,000 after acquiring an additional 2,497,275 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other news, Director Mark B. Templeton sold 5,000 shares of Arista Networks stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $204.37, for a total transaction of $1,021,850.00. Following the completion of the transaction, the director directly owned 48,410 shares in the company, valued at approximately $9,893,551.70. The trade was a 9.36% decrease in their position. The sale 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, CFO Chantelle Breithaupt sold 1,224 shares of the business's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total value of $263,160.00. Following the transaction, the chief financial officer directly owned 68,697 shares in the company, valued at $14,769,855. The trade was a 1.75% 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. Over the last ninety days, insiders have sold 3,627,449 shares of company stock valued at $740,784,723. Company insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Arista Networks in a research report on Monday, August 31st. They set a "buy" rating and a $220.00 price target for the company. The Goldman Sachs Group restated a "buy" rating and issued a $225.00 price target on shares of Arista Networks in a research note on Wednesday, August 5th. Barclays reaffirmed an "overweight" rating and set a $289.00 price target (up from $195.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Truist Financial upped their price objective on Arista Networks from $175.00 to $234.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities increased their price objective on Arista Networks from $210.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.45.

Arista Networks Price Performance

Arista Networks stock opened at $185.53 on Friday. The company's 50-day moving average is $198.69 and its 200-day moving average is $174.33. The firm has a market capitalization of $234.00 billion, a PE ratio of 58.53, a P/E/G ratio of 2.27 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 $217.41.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the business posted $0.73 EPS. Arista Networks's revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, analysts expect that Arista Networks, Inc. will post 3.79 EPS for the current year.

About Arista Networks

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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