Arista Networks, Inc. $ANET Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in Arista Networks, Inc. (NYSE:ANET) by 68.1% in the 1st quarter, Holdings Channel reports. The fund owned 16,003 shares of the technology company’s stock after selling 34,162 shares during the period. Summit Global Investments’ holdings in Arista Networks were worth $1,965,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 101,189,629 shares of the technology company’s stock worth $13,258,877,000 after purchasing an additional 1,188,799 shares during the last quarter. State Street Corp grew its position in shares of Arista Networks by 1.4% in the fourth quarter. State Street Corp now owns 46,970,697 shares of the technology company’s stock valued at $6,154,570,000 after purchasing an additional 628,146 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Arista Networks by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company’s stock valued at $4,870,618,000 after purchasing an additional 380,724 shares during the last quarter. Geode Capital Management LLC increased its stake in Arista Networks by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company’s stock valued at $3,455,095,000 after purchasing an additional 477,625 shares during the last quarter. Finally, Norges Bank purchased a new position in Arista Networks during the fourth quarter worth about $1,558,563,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $167.06, for a total value of $1,336,480.00. Following the transaction, the director owned 192,333 shares in the company, valued at approximately $32,131,150.98. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of Arista Networks stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $171.42, for a total transaction of $2,971,222.86. Following the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $2,224,345.92. This trade represents a 57.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,692,983 shares of company stock worth $452,119,385 in the last quarter. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. Wolfe Research reiterated an “outperform” rating and set a $175.00 price objective on shares of Arista Networks in a report on Wednesday, June 10th. Citigroup decreased their target price on shares of Arista Networks from $176.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. KeyCorp restated an “overweight” rating and issued a $200.00 target price (up from $178.00) on shares of Arista Networks in a report on Thursday, June 18th. Finally, Truist Financial set a $175.00 target price on shares of Arista Networks in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Buy” and a consensus price target of $188.95.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $169.17 on Tuesday. The firm has a market capitalization of $213.02 billion, a PE ratio of 57.94, a P/E/G ratio of 2.59 and a beta of 1.60. The business has a 50-day moving average of $162.41 and a two-hundred day moving average of $147.60. Arista Networks, Inc. has a 12 month low of $106.99 and a 12 month high of $189.82.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Arista Networks Company Profile

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.