TD Waterhouse Canada Inc. Raises Holdings in Arista Networks, Inc. $ANET

Key Points

• TD Waterhouse Canada increased its Arista Networks stake by 51.6% in the second quarter, bringing its holdings to 405,177 shares valued at approximately $67.6 million. Institutional investors collectively own 82.47% of ANET.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $225.76. Piper Sandler raised its target to $240, while Goldman Sachs maintained a $225 target.
• Arista reported quarterly earnings of $1.02 per share and revenue of $3.04 billion, beating estimates and delivering 37.7% year-over-year revenue growth. Meanwhile, insiders sold $726.7 million of stock during the quarter under pre-arranged trading plans.

TD Waterhouse Canada Inc. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 51.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,177 shares of the technology company's stock after acquiring an additional 137,876 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Arista Networks were worth $67,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Arista Networks during the 4th quarter worth $1,558,563,000. Jupiter Topco LLC purchased a new stake in Arista Networks in the 2nd quarter valued at about $1,101,860,000. Alyeska Investment Group L.P. purchased a new stake in Arista Networks in the 2nd quarter valued at about $537,736,000. Franklin Resources Inc. lifted its position in Arista Networks by 59.3% in the fourth quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company's stock valued at $1,032,302,000 after buying an additional 2,934,098 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Arista Networks by 34.6% in the second 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 buying an additional 2,497,275 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ANET shares. Evercore reiterated an "outperform" rating on shares of Arista Networks in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Arista Networks from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $225.00 price objective on shares of Arista Networks in a research report on Wednesday, August 5th. Raymond James Financial upgraded shares of Arista Networks from a "market perform" rating to an "outperform" rating and set a $164.00 target price for the company in a report on Friday, May 15th. Finally, Piper Sandler reissued an "overweight" rating and issued a $240.00 target price (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Two research 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.com, the company currently has a consensus rating of "Buy" and an average target price of $225.76.

Arista Networks Price Performance

ANET opened at $191.13 on Friday. The business has a fifty day moving average price of $182.22 and a 200 day moving average price of $159.92. The stock has a market capitalization of $241.06 billion, a price-to-earnings ratio of 60.29, a PEG ratio of 2.21 and a beta of 1.62. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $214.89.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The business's revenue for the quarter was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 3.7 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider directly owned 181,143,048 shares in the company, valued at approximately $36,826,381,658.40. This trade represents a 0.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of Arista Networks stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the sale, the chief executive officer directly owned 16,387,981 shares of the company's stock, valued at approximately $3,297,589,536.82. This trade represents a 4.47% 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. Insiders sold 3,782,694 shares of company stock valued at $726,728,187 in the last quarter. 2.70% of the stock is owned by insiders.

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.

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