Congress Asset Management Co. Cuts Position in Arista Networks, Inc. $ANET

Congress Asset Management Co. lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 10.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,049,467 shares of the technology company’s stock after selling 127,139 shares during the period. Arista Networks makes up approximately 1.4% of Congress Asset Management Co.’s holdings, making the stock its 8th largest holding. Congress Asset Management Co.’s holdings in Arista Networks were worth $213,661,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of 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 buying an additional 74,541,134 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Arista Networks by 34.6% in 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 acquiring an additional 2,497,275 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Arista Networks by 199.0% in 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 acquiring an additional 6,409,612 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arista Networks by 3.1% during the 4th 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 valued at $1,248,570,000 after acquiring an additional 287,385 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after acquiring an additional 388,354 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research reports. The Goldman Sachs Group restated a “buy” rating and issued a $225.00 price target on shares of Arista Networks in a report on Wednesday, August 5th. Erste Group Bank upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. Zacks Research upgraded Arista Networks from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Rosenblatt Securities boosted their target price on Arista Networks from $210.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Arista Networks in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $231.70.

Arista Networks Stock Up 4.2%

ANET stock traded up $8.60 during midday trading on Tuesday, reaching $215.50. 6,968,945 shares of the company’s stock traded hands, compared to its average volume of 7,951,314. The company has a market cap of $271.79 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 2.44 and a beta of 1.60. The firm’s fifty day moving average price is $194.51 and its 200-day moving average price is $170.06. Arista Networks, Inc. has a 52 week low of $114.52 and a 52 week high of $216.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The firm had revenue of $3.04 billion for 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%. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm earned $0.73 earnings per share. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Analysts forecast that Arista Networks, Inc. will post 3.74 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 62,622 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $211.40, for a total value of $13,238,290.80. Following the transaction, the chief executive officer owned 4,876,972 shares of the company’s stock, valued at approximately $1,030,991,880.80. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Templeton sold 5,000 shares of Arista Networks stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $204.37, for a total value of $1,021,850.00. Following the transaction, the director owned 48,410 shares of the company’s stock, valued at $9,893,551.70. This trade represents a 9.36% 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 have sold a total of 3,387,316 shares of company stock worth $676,926,570 over the last ninety days. Insiders own 2.70% of the company’s stock.

Key Stories Impacting Arista Networks

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

• Positive Sentiment: Growing AI-related data-center spending is supporting demand for Arista’s high-speed Ethernet switching and networking products. Arista advanced alongside Cisco and Ciena, with the broader networking group benefiting from expectations for sustained hyperscaler and AI infrastructure investment. AI networking demand article
• Positive Sentiment: Bernstein began coverage of Arista with an Outperform rating, adding to an already bullish analyst backdrop. MarketBeat data cited a consensus “Buy” rating and an average price target of $231.70, while recent firms have raised targets following Arista’s strong results and outlook. Bernstein coverage article
• Positive Sentiment: Investor confidence is also supported by Arista’s recent operating performance: quarterly revenue rose 37.7% year over year to $3.04 billion, exceeding estimates, while EPS surpassed consensus. Prior guidance highlighted $12.6 billion of 2026 revenue, including at least $3.5 billion from AI-related business, and the company has approximately $13.3 billion in cash with no debt.
• Neutral Sentiment: Arista will report third-quarter 2026 results after the market closes on November 3, followed by a management conference call. The announcement gives investors a defined near-term catalyst, with results and updated commentary on AI demand likely to influence the next move. Q3 2026 results announcement
• Negative Sentiment: Director Mark Templeton sold 5,000 shares worth approximately $1.02 million. Because the transaction occurred under a pre-arranged Rule 10b5-1 plan, it may be less concerning than discretionary selling, but it nevertheless represents a 9.36% reduction in his direct holdings.

Arista Networks Profile

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.