SouthState Bank Corp Raises Position in Arista Networks, Inc. $ANET

SouthState Bank Corp increased its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 52.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,424 shares of the technology company's stock after acquiring an additional 9,479 shares during the period. SouthState Bank Corp's holdings in Arista Networks were worth $3,367,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ANET. Mandatum Life Insurance Co Ltd purchased a new stake in shares of Arista Networks during the first quarter worth about $1,879,000. Katamaran Capital LLP bought a new stake in shares of Arista Networks during the first quarter valued at approximately $603,000. Zweig DiMenna Associates LLC boosted its holdings in shares of Arista Networks by 248.9% during the 1st quarter. Zweig DiMenna Associates LLC now owns 78,500 shares of the technology company's stock valued at $9,638,000 after buying an additional 56,000 shares in the last quarter. 1ST Source Bank bought a new stake in Arista Networks during the first quarter worth about $208,000. Finally, Checchi Capital Advisers LLC grew its stake in shares of Arista Networks by 24.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,502 shares of the technology company's stock worth $798,000 after buying an additional 1,273 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Activity

In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 240,000 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $162.67, for a total value of $39,040,800.00. Following the completion of the sale, the insider owned 182,043,048 shares of the company's stock, valued at $29,612,942,618.16. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 234,578 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $187.18, for a total value of $43,908,310.04. Following the sale, the chief executive officer directly owned 5,134,207 shares of the company's stock, valued at $961,020,866.26. This represents a 4.37% 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. Over the last quarter, insiders sold 3,500,983 shares of company stock valued at $584,395,630. Company insiders own 2.70% of the company's stock.

Arista Networks News Roundup

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

• Positive Sentiment: Market and analyst commentary continue to frame Arista as a key AI infrastructure winner, citing strong demand for data-center networking, healthy order backlogs, and expectations that AI spending will keep driving growth. UBS sees data center investments to drive demand but supply constraints persist
• Positive Sentiment: Arista was highlighted as a “high-growth wide-moat” name and included among infrastructure stocks tackling AI bottlenecks, reinforcing confidence in its long-term competitive position and upside potential. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks
• Positive Sentiment: Recent technical commentary says ANET is looking strong and has been setting new all-time highs, which can attract momentum-focused buyers. Arista Networks stock looks technically strong as it sets new all-time highs
• Neutral Sentiment: CEO Jayshree Ullal sold 242,422 shares in a pre-arranged Rule 10b5-1 plan. The sale was disclosed normally and does not necessarily signal a change in fundamentals, but large insider sales can still temper sentiment. SEC filing
• Neutral Sentiment: Some recent commentary notes that another enterprise AI stock may have more near-term upside because of its lower valuation, which could modestly cap enthusiasm for ANET. Workday vs. Arista: Which enterprise AI stock has more upside now?
• Negative Sentiment: A recent note said ANET underperformed the broader market in the prior session, reminding investors that the stock can see short-term volatility even with strong longer-term fundamentals. Arista Networks suffers a larger drop than the general market

Analyst Ratings Changes

Several brokerages recently commented on ANET. TD Cowen reissued a "buy" rating and set a $210.00 price objective (up from $200.00) on shares of Arista Networks in a research report on Monday. Rosenblatt Securities lifted their price objective on Arista Networks from $180.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Bank of America upped their price target on Arista Networks from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Finally, Zacks Research downgraded shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $188.16.

Arista Networks Stock Performance

Shares of ANET opened at $182.18 on Wednesday. The company's fifty day moving average is $160.20 and its 200 day moving average is $146.56. The stock has a market capitalization of $229.41 billion, a PE ratio of 62.39, a P/E/G ratio of 2.79 and a beta of 1.60. Arista Networks, Inc. has a fifty-two week low of $104.68 and a fifty-two week high of $189.82.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company's quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 3.27 earnings per share for the current year.

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.

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.