PNC Financial Services Group Inc. Purchases 20,292 Shares of Arista Networks, Inc. $ANET

Key Points

• PNC Financial Services increased its stake in Arista Networks by 6.7% in the first quarter, buying 20,292 additional shares and bringing its total holdings to 322,029 shares valued at about $39.5 million.
• Arista Networks reported strong quarterly results, with EPS of $0.87 and revenue of $2.71 billion, both topping analyst estimates; revenue also rose 35.1% year over year.
• Analysts remain broadly positive on ANET, with multiple firms raising targets or upgrading ratings and a consensus price target of $189.74, even as some insiders have recently sold shares.

PNC Financial Services Group Inc. boosted its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,029 shares of the technology company's stock after buying an additional 20,292 shares during the period. PNC Financial Services Group Inc.'s holdings in Arista Networks were worth $39,539,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Lighthouse Financial Services Inc. ADV acquired a new stake in shares of Arista Networks during the fourth quarter worth approximately $1,549,000. Bensler LLC bought a new position in Arista Networks during the 4th quarter valued at $6,350,000. QRG Capital Management Inc. boosted its stake in Arista Networks by 6.4% during the 4th quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company's stock valued at $22,224,000 after acquiring an additional 10,217 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in Arista Networks by 59.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company's stock worth $2,309,000 after acquiring an additional 6,591 shares in the last quarter. Finally, Reaves W H & Co. Inc. acquired a new position in Arista Networks during the 4th quarter worth $3,058,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $140.08, for a total value of $4,482,560.00. Following the sale, the insider directly owned 12,976 shares of the company's stock, valued at $1,817,678.08. This trade represents a 71.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 242,422 shares of the firm's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $188.17, for a total value of $45,616,547.74. Following the completion of the sale, the chief executive officer owned 5,171,095 shares in the company, valued at $973,044,946.15. The trade was a 4.48% 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 a total of 2,264,983 shares of company stock worth $376,175,065 in the last three months. 2.70% of the stock is owned by insiders.

Arista Networks Stock Up 0.9%

Shares of ANET stock opened at $176.53 on Friday. The business has a 50 day moving average of $164.31 and a two-hundred day moving average of $148.52. Arista Networks, Inc. has a 52 week low of $112.80 and a 52 week high of $189.82. The company has a market cap of $222.29 billion, a P/E ratio of 60.46, a PEG ratio of 2.68 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The business's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. Analysts expect that Arista Networks, Inc. will post 3.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, July 15th. Zacks Research downgraded Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. KeyCorp restated an "overweight" rating and set a $200.00 price objective (up from $178.00) on shares of Arista Networks in a research note on Thursday, June 18th. Finally, Raymond James Financial raised Arista Networks from a "market perform" rating to an "outperform" rating and set a $164.00 target price on the stock in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $189.74.

Arista Networks News Roundup

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Needham raised its price target on Arista Networks to $200 and maintained a Buy rating, signaling confidence in continued upside for the AI networking leader.
• Positive Sentiment: Multiple recent articles highlight Arista as a beneficiary of expanding AI adoption, which supports the investment case for its data-center and enterprise networking products.
• Positive Sentiment: Coverage also pointed to Arista’s new AI-driven VeloCloud security solution and AI zero-trust branch platform, both of which could help expand enterprise demand and deepen its product mix. Article Title
• Positive Sentiment: Some commentary says Arista is still benefiting from strong 2026 momentum and may have more room to run after a strong first half of the year. Article Title
• Neutral Sentiment: One valuation-focused piece argued the stock looks fairly priced by discounted cash flow but expensive on traditional multiples, creating a mixed picture for investors. Article Title
• Neutral Sentiment: Several other items were largely commentary or ranking pieces that reinforce Arista’s growth reputation but do not introduce a major new catalyst. Article Title

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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