6,461 Shares in Arista Networks, Inc. $ANET Purchased by Legacy Financial Independent Advisors LLC

Legacy Financial Independent Advisors LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,461 shares of the technology company’s stock, valued at approximately $1,315,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised 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 acquiring an additional 74,541,134 shares in the last quarter. Jupiter Topco LLC bought a new stake in Arista Networks during the second quarter valued at about $1,101,860,000. Envestnet Asset Management Inc. boosted its position in 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 valued at $1,635,978,000 after purchasing an additional 6,409,612 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Arista Networks in the second quarter valued at about $537,736,000. Finally, Massachusetts Financial Services Co. MA grew its stake 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 last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

NYSE:ANET opened at $159.21 on Friday. The firm has a market capitalization of $200.80 billion, a P/E ratio of 42.80, a PEG ratio of 2.06 and a beta of 1.61. The company’s fifty day moving average price is $193.20 and its 200-day moving average price is $165.48. Arista Networks, Inc. has a 1-year low of $114.52 and a 1-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, beating analysts’ consensus estimates of $1.08 by $0.12. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.33 billion. Arista Networks had a return on equity of 32.20% and a net margin of 39.97%. The company’s revenue was up 58.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Equities analysts anticipate that Arista Networks, Inc. will post 3.80 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of recent research reports. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Erste Group Bank raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 15th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Arista Networks in a research note on Wednesday. Truist Financial boosted their price objective on shares of Arista Networks from $234.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $225.00 target price on shares of Arista Networks in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Buy” and an average target price of $240.24.

Insiders Place Their Bets

In other news, insider Kenneth Duda sold 26,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $185.42, for a total transaction of $4,820,920.00. Following the sale, the insider directly owned 452,400 shares of the company’s stock, valued at $83,884,008. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jayshree Ullal sold 573,509 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $208.13, for a total value of $119,364,428.17. Following the transaction, the chief executive officer owned 25,000 shares in the company, valued at $5,203,250. This represents a 95.82% 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. Over the last quarter, insiders sold 2,380,998 shares of company stock worth $482,687,801. Company insiders own 2.70% of the company’s stock.

Arista Networks News Roundup

Here are the key news stories impacting Arista Networks this week:

• Positive Sentiment: Arista’s Q3 revenue rose 58.5% year over year to $3.66 billion, beating the $3.33 billion consensus, while adjusted EPS of $1.20 topped the $1.08 estimate. Management also projected about $18.5 billion in 2027 revenue—above Wall Street expectations—and expects AI-fabric revenue to double to roughly $7 billion. Article: Should You Add ANET Stock to Your Portfolio Post Solid Q3 Earnings?
• Neutral Sentiment: Insiders reported share sales, including director Mark Templeton’s 5,000-share sale and major shareholder Andreas Bechtolsheim’s sale of 267,892 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Bechtolsheim retained a very large stake. Article: Insider Selling at Arista Networks
• Negative Sentiment: Investors are selling AI hardware and networking stocks broadly, with reports attributing the pressure to policy concerns after the election. The sector-wide risk-off mood has overshadowed Arista’s growth outlook. Article: Arista Sinks as AI Selloff Deepens
• Negative Sentiment: Despite the positive guidance, analysts note execution and supply capacity risks, while Arista’s premium valuation and expected pressure on gross margins from a greater hardware mix leave the stock vulnerable to shifts in investor sentiment. Article: Arista Networks Stocks Fall Despite a Strong Networking Outlook

Arista Networks Company Profile

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.