Arista Networks, Inc. $ANET Shares Purchased by RFG Advisory LLC

RFG Advisory LLC increased its position in Arista Networks, Inc. (NYSE:ANET) by 52.0% in the second quarter, HoldingsChannel.com reports. The fund owned 42,530 shares of the technology company’s stock after buying an additional 14,550 shares during the period. RFG Advisory LLC’s holdings in Arista Networks were worth $7,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ABS Investment Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at about $29,000. Kelleher Financial Advisors purchased a new position in shares of Arista Networks in the second quarter worth about $31,000. Cornerstone Financial Management LLC raised its stake in shares of Arista Networks by 61.9% in the second quarter. Cornerstone Financial Management LLC now owns 183 shares of the technology company’s stock worth $31,000 after purchasing an additional 70 shares during the last quarter. Sankala Group LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth about $27,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Arista Networks during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $194.81 on Wednesday. The stock has a market capitalization of $245.70 billion, a PE ratio of 61.46, a P/E/G ratio of 2.30 and a beta of 1.62. Arista Networks, Inc. has a one year low of $114.52 and a one year high of $214.89. The business’s 50 day moving average price is $184.02 and its 200 day moving average price is $161.04.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.13. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The firm’s quarterly 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. As a group, equities research analysts forecast that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays reissued an “overweight” rating and issued a $289.00 price objective (up from $195.00) on shares of Arista Networks in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Arista Networks in a research note on Monday, August 31st. They issued a “buy” rating and a $220.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target (up from $190.00) on shares of Arista Networks in a research note on Wednesday, August 5th. 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 note on Wednesday, August 5th. Finally, Citigroup restated a “buy” rating on shares of Arista Networks in a report on Thursday, August 6th. Two equities research 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 stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Buy” and an average price target of $225.76.

Insiders Place Their Bets

In related news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the completion of the sale, the insider directly owned 181,143,048 shares of the company’s stock, 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the completion of the sale, the chief executive officer owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. This trade represents a 4.47% 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 have sold 3,782,694 shares of company stock valued at $726,728,187. Company insiders own 2.70% of the company’s stock.

About Arista Networks

Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.

The company’s software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.