Park Place Capital Corp Purchases 8,079 Shares of Arista Networks, Inc. $ANET

Park Place Capital Corp raised its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 493.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,716 shares of the technology company's stock after acquiring an additional 8,079 shares during the period. Park Place Capital Corp's holdings in Arista Networks were worth $1,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in Arista Networks by 1.4% in the fourth quarter. State Street Corp now owns 46,970,697 shares of the technology company's stock valued at $6,154,570,000 after buying an additional 628,146 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 380,724 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 worth $3,455,095,000 after purchasing an additional 477,625 shares in the last quarter. Norges Bank purchased a new stake in Arista Networks during the 4th quarter worth approximately $1,558,563,000. Finally, Massachusetts Financial Services Co. MA increased 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 valued at $1,712,788,000 after purchasing an additional 2,497,275 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ANET. Barclays reissued an "overweight" rating and issued a $289.00 target price (up from $195.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Wolfe Research restated an "outperform" rating and issued a $175.00 price objective on shares of Arista Networks in a research note on Wednesday, June 10th. TD Cowen lifted their target price on Arista Networks from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Citigroup reissued a "buy" rating on shares of Arista Networks in a research report on Thursday, August 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $260.00 price objective (up from $200.00) 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 given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $226.05.

Insider Transactions at Arista Networks

In related news, major shareholder Andreas Bechtolsheim sold 111,848 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $192.75, for a total transaction of $21,558,702.00. Following the completion of the sale, the insider directly owned 109,833 shares in the company, valued at approximately $21,170,310.75. The trade was a 50.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $185.42, for a total value of $3,213,884.86. Following the completion of the transaction, the insider directly owned 12,976 shares of the company's stock, valued at approximately $2,406,009.92. This represents a 57.19% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 3,935,851 shares of company stock valued at $738,332,610 in the last 90 days. Corporate insiders own 2.70% of the company's stock.

Arista Networks Stock Down 0.2%

ANET stock opened at $188.24 on Tuesday. The company's 50-day simple moving average is $177.95 and its 200-day simple moving average is $156.75. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $214.89. The firm has a market cap of $237.42 billion, a P/E 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 the consensus estimate of $0.89 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.Arista Networks's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.

Arista Networks 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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