Arista Networks, Inc. $ANET Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 165.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,817 shares of the technology company’s stock after purchasing an additional 99,707 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Arista Networks were worth $27,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Arista Networks by 199.0% in 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 buying an additional 6,409,612 shares during the last quarter. Andra AP fonden lifted its position in shares of Arista Networks by 106.2% during the 2nd quarter. Andra AP fonden now owns 515,400 shares of the technology company’s stock valued at $87,556,000 after acquiring an additional 265,400 shares during the last quarter. State Street Corp boosted its stake 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 acquiring an additional 74,541,134 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in shares of Arista Networks by 2,331.4% during the 2nd quarter. Silicon Valley Capital Partners now owns 156,458 shares of the technology company’s stock worth $26,579,000 after acquiring an additional 150,023 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC grew its holdings in shares of Arista Networks by 1,383.2% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 4,420 shares of the technology company’s stock worth $751,000 after acquiring an additional 4,122 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $201.22, for a total value of $154,341,575.38. Following the completion of the sale, the chief executive officer directly owned 16,387,981 shares of the company’s stock, valued at $3,297,589,536.82. This represents a 4.47% decrease in their ownership of the stock. The transaction 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 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 sale, the insider owned 181,143,048 shares of the company’s stock, valued at approximately $36,826,381,658.40. This represents a 0.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,784,361 shares of company stock worth $736,922,644 in the last quarter. 2.70% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of ANET stock traded down $1.95 on Wednesday, reaching $203.25. 3,965,779 shares of the company’s stock traded hands, compared to its average volume of 8,126,630. The company has a market capitalization of $256.34 billion, a P/E ratio of 64.12, a price-to-earnings-growth ratio of 2.44 and a beta of 1.62. Arista Networks, Inc. has a 12-month low of $114.52 and a 12-month high of $214.89. The business’s 50 day moving average price is $188.56 and its two-hundred day moving average price is $165.68.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.13. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the business earned $0.73 EPS. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. Research analysts predict that Arista Networks, Inc. will post 3.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. Wolfe Research reaffirmed an “outperform” rating and set a $175.00 target price on shares of Arista Networks in a research report on Wednesday, June 10th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price target (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Morgan Stanley reissued an “overweight” rating and issued a $220.00 price target (up from $190.00) on shares of Arista Networks in a research note on Wednesday, August 5th. KeyCorp restated an “overweight” rating and set a $250.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 price objective 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 issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $227.80.

About Arista Networks

Arista Networks, Inc designs, develops and sells cloud networking solutions for large data centers, cloud service providers, internet companies, enterprises and other organizations. Its portfolio includes high-performance Ethernet switches, routers and wireless networking products used to connect servers, storage systems, users and applications across data center and campus environments.

The company’s software offerings include Arista EOS, its Linux-based network operating system, and CloudVision, a cloud-based platform for network management, automation, monitoring and analytics.