Jones Financial Companies Lllp lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 31.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 943,743 shares of the technology company's stock after selling 425,380 shares during the period. Jones Financial Companies Lllp owned 0.07% of Arista Networks worth $148,791,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Arista Networks by 1.4% during the fourth quarter. State Street Corp now owns 46,970,697 shares of the technology company's stock worth $6,154,570,000 after buying an additional 628,146 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Arista Networks by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company's stock valued at $4,870,618,000 after acquiring an additional 380,724 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Arista Networks by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company's stock valued at $3,455,095,000 after acquiring an additional 477,625 shares during the period. Norges Bank acquired a new stake in shares of Arista Networks in the 4th quarter valued at approximately $1,558,563,000. Finally, Massachusetts Financial Services Co. MA boosted its stake 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 acquiring an additional 2,497,275 shares during the last quarter. Institutional investors own 82.47% of the company's stock.
Insider Activity at Arista Networks
In other Arista Networks news, insider Kenneth Duda sold 17,333 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $185.42, for a total transaction of $3,213,884.86. Following the completion of the transaction, the insider owned 12,976 shares in the company, valued at approximately $2,406,009.92. This represents a 57.19% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $181.02, for a total value of $1,448,160.00. Following the completion of the sale, the director directly owned 184,333 shares in the company, valued at $33,367,959.66. This represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,935,851 shares of company stock valued at $738,332,610. Insiders own 2.70% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ANET. Deutsche Bank Aktiengesellschaft upgraded shares of Arista Networks to a "buy" rating in a report on Wednesday, June 10th. Truist Financial lifted their price target on shares of Arista Networks from $175.00 to $234.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Arista Networks from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Wolfe Research restated an "outperform" rating and issued a $175.00 price objective on shares of Arista Networks in a research report on Wednesday, June 10th. Finally, UBS Group reaffirmed 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. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $226.05.
Read Our Latest Analysis on Arista Networks
Arista Networks Stock Performance
NYSE ANET opened at $188.24 on Tuesday. The business has a 50 day simple moving average of $177.95 and a 200 day simple moving average of $156.75. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $214.89. The stock has a market cap of $237.42 billion, a price-to-earnings ratio of 59.38, a PEG ratio of 1.95 and a beta of 1.60.
Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The business's revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, analysts predict that Arista Networks, Inc. will post 3.7 EPS for the current year.
Arista Networks Company Profile
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Free Report)
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.
See Also
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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.
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