Arista Networks, Inc. $ANET Shares Acquired by Halbert Hargrove Global Advisors LLC

Halbert Hargrove Global Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 22,205.9% during the third quarter, HoldingsChannel reports. The firm owned 7,584 shares of the technology company’s stock after purchasing an additional 7,550 shares during the quarter. Halbert Hargrove Global Advisors LLC’s holdings in Arista Networks were worth $1,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Daytona Street Capital LLC bought a new position in Arista Networks during the 3rd quarter valued at approximately $54,000. Milestone Asset Management LLC raised its holdings in shares of Arista Networks by 167.8% in the third quarter. Milestone Asset Management LLC now owns 52,776 shares of the technology company’s stock valued at $10,745,000 after acquiring an additional 33,071 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in shares of Arista Networks by 204.3% during the third quarter. Ellsworth Advisors LLC now owns 142,772 shares of the technology company’s stock valued at $29,067,000 after buying an additional 95,851 shares during the last quarter. Legacy Wealth Partners LLC purchased a new stake in Arista Networks in the third quarter valued at approximately $984,000. Finally, Iams Wealth Management LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $6,707,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 767,029 shares of Arista Networks stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 16,387,981 shares in the company, valued at approximately $3,297,589,536.82. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the transaction, the insider owned 181,143,048 shares of the company’s stock, valued at $36,826,381,658.40. This trade represents 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. In the last 90 days, insiders have sold 3,627,449 shares of company stock valued at $740,784,723. 2.70% of the stock is owned by insiders.

Arista Networks Trading Down 5.1%

Shares of NYSE ANET opened at $185.53 on Friday. The stock has a market cap of $234.00 billion, a P/E ratio of 58.53, a P/E/G ratio of 2.27 and a beta of 1.60. The stock has a 50 day moving average of $198.69 and a two-hundred day moving average of $174.33. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41.

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 net margin of 38.37% and a return on equity of 30.65%. The business’s revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, research analysts predict that Arista Networks, Inc. will post 3.79 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. BNP Paribas Exane raised shares of Arista Networks to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings downgraded shares of Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Finally, Evercore restated an “outperform” rating on shares of Arista Networks in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $235.45.

Arista Networks 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.