Arista Networks, Inc. $ANET Stock: State of Alaska Department of Revenue Boosts Position

State of Alaska Department of Revenue lifted its position in Arista Networks, Inc. (NYSE:ANET) by 143.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,750 shares of the technology company’s stock after buying an additional 145,579 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arista Networks were worth $50,236,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Davidson Trust Co. purchased a new position in Arista Networks in the third quarter valued at $3,512,000. Deutsche Bank AG grew its stake in Arista Networks by 4.3% during the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after purchasing an additional 388,354 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in Arista Networks by 2,827.9% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 52,381 shares of the technology company’s stock worth $10,664,000 after purchasing an additional 50,592 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in Arista Networks during the 1st quarter worth $5,279,000. Finally, Whitaker Myers Wealth Managers LTD. increased its holdings in Arista Networks by 564.1% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 16,847 shares of the technology company’s stock worth $2,862,000 after purchasing an additional 14,310 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $12.33 during trading on Thursday, hitting $183.09. 6,140,504 shares of the company were exchanged, compared to its average volume of 7,860,031. The stock has a market capitalization of $230.92 billion, a P/E ratio of 57.80, a PEG ratio of 2.38 and a beta of 1.60. Arista Networks, Inc. has a 12-month low of $114.52 and a 12-month high of $217.41. The firm’s 50 day moving average price is $198.83 and its 200-day moving average price is $173.87.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the firm posted $0.73 EPS. The company’s revenue was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 3.79 EPS for the current year.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $240.00 target price (up from $181.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Arista Networks in a research report on Monday, August 31st. They set a “buy” rating and a $220.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 target price on shares of Arista Networks in a research note on Wednesday, August 5th. KeyCorp reissued an “overweight” rating and issued a $250.00 target price (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.45.

Insider Activity

In related news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the transaction, the insider 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. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total value 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,627,449 shares of company stock worth $740,784,723. Corporate insiders own 2.70% of the company’s stock.

Arista Networks Company 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.