Private Advisory Group LLC Purchases 13,888 Shares of Arista Networks, Inc. $ANET

Key Points

• Private Advisory Group increased its Arista Networks position by 16.1%, purchasing 13,888 additional shares to hold 100,211 shares valued at approximately $17.0 million. Institutional investors collectively own 82.47% of the stock.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $226.05; several firms recently raised their targets to between $240 and $260.
• Arista reported strong quarterly results, with EPS of $1.02 versus the $0.89 estimate and revenue of $3.04 billion, up 37.7% year over year. However, insiders sold more than 4.3 million shares worth approximately $798.6 million over the past three months.

Private Advisory Group LLC grew its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,211 shares of the technology company's stock after buying an additional 13,888 shares during the quarter. Private Advisory Group LLC's holdings in Arista Networks were worth $17,024,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Arista Networks during the fourth quarter valued at approximately $1,558,563,000. M&T Bank Corp increased its stake in shares of Arista Networks by 3,182.7% in the 4th quarter. M&T Bank Corp now owns 4,012,373 shares of the technology company's stock valued at $525,741,000 after purchasing an additional 3,890,146 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Arista Networks by 59.3% in the 4th quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company's stock valued at $1,032,302,000 after purchasing an additional 2,934,098 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 buying an additional 2,497,275 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Arista Networks by 86.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,240,951 shares of the technology company's stock worth $520,168,000 after buying an additional 1,960,829 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. TD Cowen raised their price objective on Arista Networks from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Needham & Company LLC reissued a "buy" rating and set a $260.00 target price (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Bank of America reissued a "buy" rating and issued a $240.00 target price (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Wolfe Research restated an "outperform" rating and issued a $175.00 price target on shares of Arista Networks in a research note on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Arista Networks to a "buy" rating in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $226.05.

Insider Transactions at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of the company's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $170.51, for a total value of $4,433,260.00. Following the completion of the transaction, the insider owned 462,400 shares of the company's stock, valued at $78,843,824. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 111,848 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $192.75, for a total transaction of $21,558,702.00. Following the completion of the transaction, the insider owned 109,833 shares of the company's stock, valued at approximately $21,170,310.75. This trade represents a 50.45% 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 three months, insiders have sold 4,335,168 shares of company stock valued at $798,637,629. 2.70% of the stock is currently owned by company insiders.

Arista Networks Stock Up 1.6%

Shares of ANET stock opened at $202.05 on Tuesday. The firm has a market capitalization of $254.83 billion, a P/E ratio of 63.74, a P/E/G ratio of 2.06 and a beta of 1.60. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89. The stock's fifty day simple moving average is $175.00 and its 200 day simple moving average is $155.18.

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, topping analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The business's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, equities research analysts expect that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

About Arista Networks

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source