Keybank National Association OH Raises Stake in Arista Networks, Inc. $ANET

Key Points

• Keybank National Association OH increased its Arista Networks stake by 43.9% in the first quarter, ending with 295,180 shares worth about $36.2 million.
• Arista Networks reported better-than-expected Q1 results, posting $0.87 EPS on revenue of $2.71 billion, with revenue up 35.1% year over year.
• Despite recent insider sales, analysts remain bullish on ANET: the stock has a Buy consensus rating and an average price target of $187.63.

Keybank National Association OH boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 295,180 shares of the technology company's stock after buying an additional 90,032 shares during the quarter. Keybank National Association OH's holdings in Arista Networks were worth $36,242,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Board of the Pension Protection Fund purchased a new stake in shares of Arista Networks during the 4th quarter worth approximately $26,000. Sankala Group LLC purchased a new position in Arista Networks in the fourth quarter valued at approximately $27,000. Prosperity Bancshares Inc purchased a new position in Arista Networks in the fourth quarter valued at approximately $28,000. Knuff & Co LLC purchased a new position in Arista Networks in the third quarter valued at approximately $29,000. Finally, Ameliora Wealth Management Ltd. bought a new position in Arista Networks during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 428,000 shares of Arista Networks stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $177.44, for a total transaction of $75,944,320.00. Following the completion of the transaction, the chief executive officer owned 5,209,207 shares of the company's stock, valued at $924,321,690.08. The trade was a 7.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 260,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $165.57, for a total value of $43,048,200.00. Following the sale, the insider owned 182,543,048 shares in the company, valued at approximately $30,223,652,457.36. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,639,080 shares of company stock valued at $430,322,162. 2.70% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $160.38 on Friday. The stock has a market capitalization of $201.95 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 2.57 and a beta of 1.60. The company's fifty day simple moving average is $159.42 and its two-hundred day simple moving average is $143.80. Arista Networks, Inc. has a 1 year low of $100.33 and a 1 year high of $179.80.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly 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. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The business's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. Equities research analysts anticipate that Arista Networks, Inc. will post 3.27 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on ANET shares. JPMorgan Chase & Co. raised their target price on Arista Networks from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and set a $190.00 price target (up from $180.00) on shares of Arista Networks in a research report on Friday, June 12th. TD Cowen reiterated a "buy" rating and set a $200.00 price target (up from $170.00) on shares of Arista Networks in a research note on Wednesday, May 6th. Wolfe Research reissued an "outperform" rating and issued a $175.00 price objective on shares of Arista Networks in a report on Wednesday, June 10th. Finally, UBS Group restated a "buy" rating and issued a $187.00 price objective (up from $177.00) on shares of Arista Networks in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $187.63.

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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