7,310 Arista Networks, Inc. $ANET Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,766 shares of the technology company’s stock after purchasing an additional 7,310 shares during the period. Maryland State Retirement & Pension System’s holdings in Arista Networks were worth $12,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Arista Networks by 159.4% in the 2nd quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock worth $20,606,975,000 after buying an additional 74,541,134 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Arista Networks by 34.6% during the 2nd 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 buying an additional 2,497,275 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Arista Networks by 199.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock valued at $1,635,978,000 after buying an additional 6,409,612 shares during the last quarter. Deutsche Bank AG raised its stake 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 acquiring an additional 388,354 shares during the period. Finally, Wellington Management Group LLP raised its stake in Arista Networks by 5.9% during the second quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock worth $1,433,951,000 after acquiring an additional 470,451 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $202.60, for a total transaction of $60,780,000.00. Following the sale, the insider owned 180,843,048 shares of the company’s stock, valued at approximately $36,638,801,524.80. The trade was a 0.17% 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, CEO Jayshree Ullal sold 460,374 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $212.09, for a total value of $97,640,721.66. Following the sale, the chief executive officer directly owned 4,811,207 shares in the company, valued at approximately $1,020,408,892.63. This trade represents a 8.73% 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 90 days, insiders sold 2,067,489 shares of company stock worth $406,340,373. Insiders own 2.70% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $196.81 on Thursday. The company has a 50-day simple moving average of $192.35 and a 200-day simple moving average of $166.53. The firm has a market capitalization of $248.65 billion, a P/E ratio of 52.91, a P/E/G ratio of 1.65 and a beta of 1.61. Arista Networks, Inc. has a one year low of $114.52 and a one year high of $217.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Arista Networks had a net margin of 39.97% and a return on equity of 32.20%. The company’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 4.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent research reports. Evercore reissued an “outperform” rating on shares of Arista Networks in a report on Monday, November 2nd. Melius Research set a $305.00 target price on Arista Networks in a report on Wednesday, November 4th. Weiss Ratings cut Arista Networks from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Truist Financial increased their price target on Arista Networks from $234.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price target on shares of Arista Networks in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Buy” and an average price target of $240.24.

Trending Headlines about Arista Networks

Investors following ANET have been watching these headlines:

• Positive Sentiment: An AI-cloud rebound lifted networking shares, and Arista’s fourth-quarter revenue guidance of $3.9 billion to $4.0 billion offered investors a concrete growth catalyst. Arista Networks Stocks Climb as AI Cloud Rebound Lifts Networking Leader
• Neutral Sentiment: Co-founder Andreas Bechtolsheim has sold about $668 million of shares since May, but reports say the transactions were made under a pre-arranged trading plan. He retains a very large stake, which may temper concerns that the sales signal a change in outlook. Arista’s Co-Founder Has Sold About $668 Million of Stock Since May
• Negative Sentiment: A wider AI-stock sell-off remains a near-term risk, and Arista underperformed some competitors despite rising in Wednesday’s session. Sector volatility could limit gains even as company-specific fundamentals remain strong. Arista Networks stock underperforms competitors despite gains

Arista Networks Profile

Arista Networks, Inc. develops software-driven networking products for large data centers, cloud environments, AI workloads, and enterprise campuses. Its offerings include Ethernet switches and routers, along with software and services for managing, monitoring, and securing networks. The company’s software portfolio includes its Extensible Operating System (EOS), which runs across its networking platforms, and CloudVision, a platform for network automation and management. Arista’s products are used by cloud providers, businesses, and other organizations to connect and manage computing infrastructure.