Arizona State Retirement System Acquires 2,984 Shares of Arista Networks, Inc. $ANET

Arizona State Retirement System raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,365 shares of the technology company’s stock after purchasing an additional 2,984 shares during the period. Arizona State Retirement System’s holdings in Arista Networks were worth $50,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Arista Networks by 17,042.6% in the 2nd quarter. California State Teachers Retirement System now owns 272,793,984 shares of the technology company’s stock valued at $46,342,242,000 after buying an additional 271,202,666 shares in the last quarter. State Street Corp lifted its position in shares of Arista Networks by 1.4% during the fourth quarter. State Street Corp now owns 46,970,697 shares of the technology company’s stock worth $6,154,570,000 after acquiring an additional 628,146 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Arista Networks by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,171,766 shares of the technology company’s stock worth $4,870,618,000 after acquiring an additional 380,724 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Arista Networks by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 26,447,629 shares of the technology company’s stock worth $3,455,095,000 after acquiring an additional 477,625 shares during the period. Finally, Norges Bank purchased a new position in shares of Arista Networks in the fourth quarter valued at $1,558,563,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America reissued a “buy” rating and set a $240.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Truist Financial lifted their target price on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Raymond James Financial upgraded Arista Networks from a “market perform” rating to an “outperform” rating and set a $164.00 price target on the stock in a research report on Friday, May 15th. TD Cowen increased their price target on shares of Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $255.00 price objective (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Buy” and a consensus target price of $225.76.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 767,029 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total transaction of $154,341,575.38. Following the sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, 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 Arista Networks stock in a transaction 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 sale, the insider directly owned 181,143,048 shares of the company’s stock, valued at $36,826,381,658.40. This represents a 0.17% decrease in their ownership of the stock. 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 a total of 3,782,694 shares of company stock worth $726,728,187 in the last three months. Insiders own 2.70% of the company’s stock.

Arista Networks Trading Up 0.5%

Shares of ANET traded up $1.03 during trading hours on Tuesday, reaching $194.81. 4,741,372 shares of the company’s stock traded hands, compared to its average volume of 8,312,051. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $214.89. The stock has a market cap of $245.71 billion, a PE ratio of 61.46, a price-to-earnings-growth ratio of 2.30 and a beta of 1.62. The firm’s 50 day simple moving average is $183.52 and its 200-day simple moving average is $160.65.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.13. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the business earned $0.73 earnings per share. Arista Networks’s revenue for the quarter was up 37.7% compared to the same quarter last year. 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 3.7 earnings per share for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.