Timothy G. Youngquist 2020 Irrevocable Trust Buys 17,070 Shares of Arista Networks, Inc. $ANET

Key Points

• Timothy G. Youngquist 2020 Irrevocable Trust bought 17,070 additional Arista Networks shares in the second quarter, increasing its position by 4,676.7% to 17,435 shares valued at approximately $2.96 million.
• Arista reported quarterly EPS of $1.02, beating estimates of $0.89, while revenue rose 37.7% year over year to $3.04 billion. Analysts remain broadly bullish, with an average “Buy” rating and a $226.05 price target.
• Insiders have sold 4.33 million shares worth approximately $798.5 million over the past 90 days, including CEO Jayshree Ullal’s sale of 573,509 shares for about $119.4 million under a pre-arranged trading plan.

Timothy G. Youngquist 2020 Irrevocable Trust grew its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 4,676.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,435 shares of the technology company's stock after acquiring an additional 17,070 shares during the quarter. Arista Networks comprises about 0.6% of Timothy G. Youngquist 2020 Irrevocable Trust's investment portfolio, making the stock its 17th biggest holding. Timothy G. Youngquist 2020 Irrevocable Trust's holdings in Arista Networks were worth $2,962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ANET. Vanguard Group Inc. boosted its holdings in Arista Networks by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 101,189,629 shares of the technology company's stock worth $13,258,877,000 after purchasing an additional 1,188,799 shares during the last quarter. State Street Corp raised its stake in Arista Networks by 1.4% during the 4th quarter. State Street Corp now owns 46,970,697 shares of the technology company's stock valued at $6,154,570,000 after buying an additional 628,146 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Arista Networks by 1.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company's stock valued at $4,870,618,000 after buying an additional 380,724 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company's stock valued at $3,455,095,000 after buying an additional 477,625 shares during the period. Finally, Norges Bank purchased a new position in shares of Arista Networks in the 4th quarter worth $1,558,563,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 4.6%

Shares of NYSE:ANET opened at $192.61 on Wednesday. The stock has a 50 day moving average of $175.81 and a 200 day moving average of $155.48. The company has a market cap of $242.93 billion, a PE ratio of 60.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.60. 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 released its earnings results 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 net margin of 38.37% and a return on equity of 30.65%. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter last year, the business earned $0.73 EPS. The firm's revenue was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Equities research analysts predict that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jayshree Ullal sold 573,509 shares of Arista Networks stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $208.13, for a total transaction of $119,364,428.17. Following the transaction, the chief executive officer owned 25,000 shares in the company, valued at approximately $5,203,250. The trade was a 95.82% decrease in their position. The transaction was disclosed in a filing 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, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $181.02, for a total transaction of $1,448,160.00. Following the completion of the transaction, the director directly owned 184,333 shares of the company's stock, valued at $33,367,959.66. This represents a 4.16% decrease in their position. 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 have sold 4,334,197 shares of company stock valued at $798,500,786 over the last 90 days. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ANET. Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Zacks Research raised Arista Networks from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Rosenblatt Securities raised their target price on Arista Networks from $210.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Truist Financial boosted their price target on Arista Networks from $175.00 to $234.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Erste Group Bank raised shares of Arista Networks from a "hold" rating to a "buy" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Arista Networks has an average rating of "Buy" and an average price target of $226.05.

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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