49,159 Shares of Arista Networks, Inc. $ANET Bought by Legacy Private Trust Co.

Legacy Private Trust Co. bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,159 shares of the technology company’s stock, valued at approximately $10,008,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. State Street Corp boosted its position 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 period. Massachusetts Financial Services Co. MA raised its position in Arista Networks by 34.6% in the second 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 purchasing an additional 2,497,275 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Arista Networks by 199.0% during the second quarter. Envestnet Asset Management Inc. now owns 9,630,196 shares of the technology company’s stock worth $1,635,978,000 after purchasing an additional 6,409,612 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Arista Networks by 3.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,528,887 shares of the technology company’s stock worth $1,248,570,000 after buying an additional 287,385 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Arista Networks by 4.3% in the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after buying an additional 388,354 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 767,029 shares of Arista Networks stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 owned 181,143,048 shares of the company’s stock, valued at approximately $36,826,381,658.40. This trade represents a 0.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,387,316 shares of company stock valued at $676,926,570 over the last quarter. Insiders own 2.70% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET traded up $6.00 during midday trading on Tuesday, reaching $212.90. 3,976,914 shares of the company traded hands, compared to its average volume of 7,935,354. The company has a market cap of $268.51 billion, a price-to-earnings ratio of 67.19, a PEG ratio of 2.44 and a beta of 1.60. The stock has a 50-day moving average price of $194.51 and a 200 day moving average price of $170.06. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $214.89.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates 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 was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, analysts expect that Arista Networks, Inc. will post 3.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANET. Deutsche Bank Aktiengesellschaft began coverage on Arista Networks in a report on Monday, August 31st. They set a “buy” rating and a $220.00 target price on the stock. TD Cowen lifted their price target 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. Wolfe Research restated an “outperform” rating and set a $175.00 price objective on shares of Arista Networks in a research note on Wednesday, June 10th. UBS Group restated a “buy” rating and issued a $259.00 price target (up from $187.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $220.00 price objective (up from $190.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $231.70.

About Arista Networks

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.