QRG Capital Management Inc. Acquires 337,133 Shares of Arista Networks, Inc. $ANET

QRG Capital Management Inc. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 181.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 523,202 shares of the technology company’s stock after purchasing an additional 337,133 shares during the quarter. Arista Networks accounts for 0.6% of QRG Capital Management Inc.’s holdings, making the stock its 29th biggest holding. QRG Capital Management Inc.’s holdings in Arista Networks were worth $88,882,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its position in Arista Networks by 165.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 159,817 shares of the technology company’s stock valued at $27,150,000 after acquiring an additional 99,707 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Arista Networks by 199.0% in the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock valued at $1,635,978,000 after purchasing an additional 6,409,612 shares during the period. Andra AP fonden lifted its stake in shares of Arista Networks by 106.2% in the second quarter. Andra AP fonden now owns 515,400 shares of the technology company’s stock worth $87,556,000 after acquiring an additional 265,400 shares during the period. State Street Corp boosted its stake in shares of Arista Networks by 159.4% in the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock valued at $20,606,975,000 after purchasing an additional 74,541,134 shares during the last quarter. Finally, Silicon Valley Capital Partners boosted its position in Arista Networks by 2,331.4% during the second quarter. Silicon Valley Capital Partners now owns 156,458 shares of the technology company’s stock valued at $26,579,000 after acquiring an additional 150,023 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANET. Rosenblatt Securities upped their target price on Arista Networks from $210.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Zacks Research raised Arista Networks from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Arista Networks in a report on Monday, August 31st. They set a “buy” rating and a $220.00 price target on the stock. Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $225.00 price target on shares of Arista Networks in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $227.80.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer directly owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. The trade was a 4.47% decrease in their ownership of the stock. The transaction 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, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’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 $36,826,381,658.40. The trade was a 0.17% 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 have sold a total of 3,784,361 shares of company stock worth $736,922,644 over the last ninety days. Insiders own 2.70% of the company’s stock.

Arista Networks Stock Performance

ANET traded down $1.95 during midday trading on Wednesday, reaching $203.25. 3,965,779 shares of the company were exchanged, compared to its average volume of 8,126,630. The company has a market cap of $256.34 billion, a price-to-earnings ratio of 64.12, a price-to-earnings-growth ratio of 2.44 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 company’s fifty day moving average price is $188.56 and its 200 day moving average price is $165.68.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.Arista Networks’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.

Arista Networks Profile

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.