Arista Networks, Inc. $ANET Shares Purchased by Andra AP fonden

Andra AP fonden increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 106.2% in the 2nd quarter, Holdings Channel reports. The firm owned 515,400 shares of the technology company’s stock after purchasing an additional 265,400 shares during the period. Arista Networks accounts for approximately 1.0% of Andra AP fonden’s portfolio, making the stock its 18th largest position. Andra AP fonden’s holdings in Arista Networks were worth $87,556,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Arista Networks by 159.4% during the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after purchasing an additional 74,541,134 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 worth $3,455,095,000 after buying an additional 477,625 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Arista Networks by 34.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock worth $1,712,788,000 after acquiring an additional 2,497,275 shares during the last quarter. Deutsche Bank AG grew its stake in Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after acquiring an additional 388,354 shares in the last quarter. Finally, Norges Bank acquired a new stake in Arista Networks in the 4th quarter valued at about $1,558,563,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Chantelle Breithaupt sold 612 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $195.77, for a total value of $119,811.24. Following the sale, the chief financial officer directly owned 69,921 shares in the company, valued at approximately $13,688,434.17. The trade was a 0.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kelly Battles sold 422 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $187.34, for a total transaction of $79,057.48. Following the transaction, the director directly owned 10,194 shares of the company’s stock, valued at approximately $1,909,743.96. This trade 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 ninety days, insiders sold 3,784,361 shares of company stock worth $736,922,644. 2.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Evercore restated an “outperform” rating on shares of Arista Networks in a research report on Thursday, September 10th. Truist Financial increased their price target on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Arista Networks in a report on Monday, August 31st. They issued a “buy” rating and a $220.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $227.80.

Arista Networks Stock Performance

Shares of NYSE ANET traded down $1.30 during midday trading on Tuesday, reaching $204.12. 1,698,791 shares of the stock were exchanged, compared to its average volume of 8,133,324. The stock has a market capitalization of $257.44 billion, a P/E ratio of 64.41, a PEG ratio of 2.37 and a beta of 1.62. The company has a 50 day simple moving average of $188.10 and a 200 day simple moving average of $165.18. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89.

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. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, research analysts expect that Arista Networks, Inc. will post 3.7 earnings per share for the current year.

Arista Networks Company Profile

Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.

The company’s software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.