Arista Networks, Inc. $ANET Stock: State of Alaska Department of Revenue Grows Position

State of Alaska Department of Revenue boosted its position in Arista Networks, Inc. (NYSE:ANET) by 143.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 246,750 shares of the technology company’s stock after purchasing an additional 145,579 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arista Networks were worth $50,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of Arista Networks by 159.4% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Arista Networks by 34.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock valued at $1,712,788,000 after purchasing an additional 2,497,275 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Arista Networks by 199.0% during the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after buying an additional 6,409,612 shares in the last quarter. Deutsche Bank AG lifted its position in Arista Networks by 4.3% during the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after buying an additional 388,354 shares in the last quarter. Finally, Amundi lifted its position in Arista Networks by 5.7% during the first quarter. Amundi now owns 9,064,443 shares of the technology company’s stock worth $1,112,932,000 after buying an additional 491,173 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 767,029 shares of the 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 transaction, the chief executive officer owned 16,387,981 shares of the company’s stock, valued at $3,297,589,536.82. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the 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 transaction, 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. 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 3,627,449 shares of company stock worth $740,784,723 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET stock traded down $12.33 during trading on Thursday, hitting $183.09. 6,140,504 shares of the stock traded hands, compared to its average volume of 7,860,031. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41. The firm has a market capitalization of $230.92 billion, a P/E ratio of 57.80, a price-to-earnings-growth ratio of 2.38 and a beta of 1.60. The firm’s fifty day moving average price is $198.83 and its 200-day moving average price is $173.87.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the prior year, the business posted $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 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of recent research reports. Wells Fargo & Company reissued an “overweight” rating and set a $255.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 target price on shares of Arista Networks in a research note on Wednesday, August 5th. 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 note on Wednesday, August 5th. KeyCorp reiterated an “overweight” rating and set a $250.00 price target (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, TD Cowen boosted their price target on shares of Arista Networks from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.45.

Arista Networks Company Profile

Arista Networks, Inc develops and sells cloud networking solutions for data centers, campus environments and high-performance computing applications. Its products include Ethernet switches, routers, wireless access points and related networking equipment designed to support cloud computing, artificial intelligence, enterprise and service-provider networks.

The company’s software portfolio includes Arista EOS, its network operating system, and CloudVision, a platform that helps customers manage, automate and monitor network infrastructure.