SteelPeak Wealth LLC Has $2.01 Million Stock Holdings in Arista Networks, Inc. $ANET

Key Points

• SteelPeak Wealth LLC cut its Arista Networks stake by 45.3% in the first quarter, leaving it with 16,380 shares valued at about $2.01 million.
• Arista Networks remains heavily held by institutions, with hedge funds and other investors owning 82.47% of the stock. Several firms recently added significant positions, including Norges Bank, M&T Bank, and Franklin Resources.
• Analysts are still broadly positive on ANET: the stock has a consensus rating of Buy with an average price target of $188.95, while the company also beat quarterly earnings estimates and reported 35.1% year-over-year revenue growth.

SteelPeak Wealth LLC decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 45.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,380 shares of the technology company's stock after selling 13,548 shares during the quarter. SteelPeak Wealth LLC's holdings in Arista Networks were worth $2,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter worth $1,558,563,000. M&T Bank Corp raised its stake in Arista Networks by 3,182.7% during 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. boosted its holdings in 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 period. Pictet Asset Management Holding SA grew its position in Arista Networks by 86.0% in 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 purchasing an additional 1,960,829 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Arista Networks in the 4th quarter worth $198,285,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Analysts Set New Price Targets

ANET has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $190.00 price objective (up from $180.00) on shares of Arista Networks in a research report on Friday, June 12th. KeyCorp reissued an "overweight" rating and set a $200.00 target price (up from $178.00) on shares of Arista Networks in a research report on Thursday, June 18th. Zacks Research cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 14th. Citigroup lowered their price target on shares of Arista Networks from $176.00 to $173.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $200.00 price objective (up from $185.00) on shares of Arista Networks in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Arista Networks currently has an average rating of "Buy" and a consensus target price of $188.95.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 234,578 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $187.18, for a total value of $43,908,310.04. Following the completion of the sale, the chief executive officer owned 5,134,207 shares of the company's stock, valued at $961,020,866.26. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 240,000 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $162.67, for a total transaction of $39,040,800.00. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,092,983 shares of company stock valued at $519,161,650 over the last three months. 2.70% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET opened at $168.60 on Friday. The company has a market capitalization of $212.30 billion, a P/E ratio of 57.74, a PEG ratio of 2.60 and a beta of 1.60. Arista Networks, Inc. has a one year low of $106.99 and a one year high of $189.82. The business's 50 day simple moving average is $161.75 and its 200-day simple moving average is $147.25.

Arista Networks (NYSE:ANET - Get Free Report) last released 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 business had revenue of $2.71 billion for 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%.Arista Networks's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 3.27 EPS for the current fiscal 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.

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