Arista Networks, Inc. $ANET Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 51.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 405,177 shares of the technology company’s stock after purchasing an additional 137,876 shares during the period. TD Waterhouse Canada Inc.’s holdings in Arista Networks were worth $67,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $1,558,563,000. Jupiter Topco LLC acquired a new stake in Arista Networks during the 2nd quarter worth $1,101,860,000. Alyeska Investment Group L.P. acquired a new stake in Arista Networks during the 2nd quarter worth $537,736,000. Franklin Resources Inc. grew its position in Arista Networks by 59.3% during the 4th quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company’s stock worth $1,032,302,000 after purchasing an additional 2,934,098 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Arista Networks by 34.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock worth $1,712,788,000 after purchasing an additional 2,497,275 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, insider Kenneth Duda sold 17,333 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $185.42, for a total transaction of $3,213,884.86. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at $2,406,009.92. The trade was a 57.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kelly Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $187.34, for a total value of $79,057.48. Following the completion of the sale, the director owned 10,194 shares in the company, valued at approximately $1,909,743.96. This represents a 3.98% 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. In the last 90 days, insiders sold 3,782,694 shares of company stock worth $726,728,187. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ANET. Rosenblatt Securities upped their target price on shares of Arista Networks from $210.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating and set a $240.00 price target (up from $181.00) on shares of Arista Networks in a report on Wednesday, August 5th. KeyCorp restated an “overweight” rating and issued a $250.00 price target (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $259.00 price objective (up from $187.00) 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $225.76.

Arista Networks Stock Up 2.7%

Shares of ANET opened at $191.13 on Friday. The company has a 50-day simple moving average of $182.22 and a 200-day simple moving average of $159.92. The company has a market capitalization of $241.06 billion, a PE ratio of 60.29, a P/E/G ratio of 2.21 and a beta of 1.62. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $214.89.

Arista Networks (NYSE:ANET) last released 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 net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue 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 EPS for the current year.

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.