Envestnet Asset Management Inc. Has $1.64 Billion Stock Position in Arista Networks, Inc. $ANET

Envestnet Asset Management Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 199.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,630,196 shares of the technology company’s stock after purchasing an additional 6,409,612 shares during the period. Envestnet Asset Management Inc.’s holdings in Arista Networks were worth $1,635,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ANET. Andra AP fonden increased its holdings in Arista Networks by 106.2% in the second quarter. Andra AP fonden now owns 515,400 shares of the technology company’s stock worth $87,556,000 after buying an additional 265,400 shares during the last quarter. State Street Corp lifted its stake in Arista Networks by 159.4% in the second quarter. State Street Corp now owns 121,303,125 shares of the technology company’s stock valued at $20,606,975,000 after acquiring an additional 74,541,134 shares during the last quarter. Silicon Valley Capital Partners lifted its stake in Arista Networks by 2,331.4% in the second quarter. Silicon Valley Capital Partners now owns 156,458 shares of the technology company’s stock valued at $26,579,000 after acquiring an additional 150,023 shares during the last quarter. Cherry Tree Wealth Management LLC grew its position in Arista Networks by 1,383.2% in the second quarter. Cherry Tree Wealth Management LLC now owns 4,420 shares of the technology company’s stock worth $751,000 after acquiring an additional 4,122 shares in the last quarter. Finally, Talon Private Wealth LLC bought a new stake in Arista Networks in the second quarter worth approximately $232,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 owned 16,387,981 shares in the company, valued at $3,297,589,536.82. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the completion of the sale, the insider directly owned 181,143,048 shares in the company, valued at $36,826,381,658.40. This trade represents a 0.17% 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. Insiders sold 3,784,361 shares of company stock worth $736,922,644 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

Shares of NYSE ANET traded down $1.95 during trading hours on Wednesday, hitting $203.25. 3,965,779 shares of the stock were exchanged, compared to its average volume of 8,126,630. Arista Networks, Inc. has a one year low of $114.52 and a one year high of $214.89. The company’s 50 day moving average is $188.56 and its 200 day moving average is $165.68. The firm has a market capitalization of $256.34 billion, a P/E ratio of 64.12, a P/E/G ratio of 2.44 and a beta of 1.62.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. The firm had revenue of $3.04 billion for 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%. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Research analysts anticipate that Arista Networks, Inc. will post 3.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ANET shares. KeyCorp reiterated an “overweight” rating and issued a $250.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. TD Cowen raised their target price on Arista Networks from $210.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Evercore reiterated an “outperform” rating on shares of Arista Networks in a research note on Thursday, September 10th. Finally, Wolfe Research reissued an “outperform” rating and set a $175.00 price objective on shares of Arista Networks in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $227.80.

About Arista Networks

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.