Arista Networks, Inc. $ANET Stock Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,212 shares of the technology company’s stock after selling 13,675 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arista Networks were worth $50,533,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Main Street Group LTD purchased a new stake in shares of Arista Networks in the first quarter valued at approximately $26,000. Sankala Group LLC bought a new position in Arista Networks in the fourth quarter worth approximately $27,000. ABS Investment Management LLC purchased a new position in Arista Networks during the 2nd quarter worth $29,000. ABS Direct Equity Fund LLC purchased a new position in Arista Networks during the 2nd quarter worth $29,000. Finally, Hilton Head Capital Partners LLC increased its holdings in Arista Networks by 184.9% during the 1st quarter. Hilton Head Capital Partners LLC now owns 245 shares of the technology company’s stock worth $30,000 after purchasing an additional 159 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ANET. Bank of America reaffirmed a “buy” rating and set a $240.00 target price (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on Arista Networks in a research report on Wednesday, September 30th. They set an “outperform” rating and a $250.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Arista Networks in a research note on Monday, August 31st. They set a “buy” rating and a $220.00 price target on the stock. Weiss Ratings downgraded Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Finally, TD Cowen upped their price objective 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. Two 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. Based on data from MarketBeat, Arista Networks has an average rating of “Buy” and an average target price of $235.45.

Arista Networks Stock Up 3.3%

Shares of ANET stock opened at $182.88 on Tuesday. The firm has a market cap of $230.65 billion, a price-to-earnings ratio of 57.69, a PEG ratio of 2.06 and a beta of 1.60. The company’s 50 day moving average is $198.29 and its 200 day moving average is $175.18. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41.

Arista Networks (NYSE:ANET) last issued 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. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. Arista Networks’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Analysts anticipate that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 767,029 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the transaction, the chief executive officer directly owned 16,387,981 shares of the company’s stock, valued at approximately $3,297,589,536.82. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, 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. 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 3,584,116 shares of company stock worth $733,396,013 over the last quarter. Company insiders own 2.70% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.