Arista Networks (NYSE:ANET) Shares Up 3.3% – Here’s What Happened

Arista Networks, Inc. (NYSE:ANET)’s share price rose 3.3% during trading on Monday. The company traded as high as $185.91 and last traded at $182.8810. 6,278,241 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 7,868,694 shares. The stock had previously closed at $176.98.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating and set a $259.00 target price (up from $187.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Sanford C. Bernstein started coverage on shares of Arista Networks in a report on Wednesday, September 30th. They issued an “outperform” rating and a $250.00 price target for the company. TD Cowen cut their price target on shares of Arista Networks from $250.00 to $205.00 and set a “buy” rating for the company in a report on Monday. Truist Financial upped their price objective on shares of Arista Networks from $175.00 to $234.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $250.00 price objective on shares of Arista Networks in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $233.20.

Arista Networks Trading Down 0.7%

The company has a fifty day moving average of $197.98 and a 200-day moving average of $175.58. The company has a market capitalization of $229.03 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 2.12 and a beta of 1.60.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The business had revenue of $3.04 billion during 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%. The business’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior 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, equities research analysts expect that Arista Networks, Inc. will post 3.79 EPS for the current year.

Insider Activity

In related news, CFO Chantelle Breithaupt sold 1,224 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $215.00, for a total transaction of $263,160.00. Following the completion of the sale, the chief financial officer directly owned 68,697 shares in the company, valued at approximately $14,769,855. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 130,553 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $217.10, for a total value of $28,343,056.30. Following the completion of the transaction, the chief executive officer directly owned 4,774,691 shares of the company’s stock, valued at approximately $1,036,585,416.10. This represents a 2.66% 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 3,584,116 shares of company stock valued at $733,396,013 in the last three months. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Arista Networks

A number of large investors have recently modified their holdings of the business. Cura Wealth Advisors LLC lifted its position in shares of Arista Networks by 3.1% during the 2nd quarter. Cura Wealth Advisors LLC now owns 1,748 shares of the technology company’s stock worth $297,000 after purchasing an additional 52 shares during the last quarter. Affinity Capital Advisors LLC grew its stake in shares of Arista Networks by 1.4% during the third quarter. Affinity Capital Advisors LLC now owns 3,770 shares of the technology company’s stock worth $817,000 after purchasing an additional 53 shares in the last quarter. Madison Wealth Partners Inc grew its stake in shares of Arista Networks by 2.8% during the second quarter. Madison Wealth Partners Inc now owns 2,179 shares of the technology company’s stock worth $370,000 after purchasing an additional 60 shares in the last quarter. Intrua Financial LLC increased its holdings in Arista Networks by 2.7% in the first quarter. Intrua Financial LLC now owns 2,307 shares of the technology company’s stock valued at $283,000 after buying an additional 61 shares during the last quarter. Finally, Retirement Planning Group LLC increased its holdings in Arista Networks by 1.1% in the third quarter. Retirement Planning Group LLC now owns 5,705 shares of the technology company’s stock valued at $1,161,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.