Arista Networks, Inc. $ANET Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 68.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,003 shares of the technology company’s stock after selling 34,162 shares during the quarter. Summit Global Investments’ holdings in Arista Networks were worth $1,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lighthouse Financial Services Inc. ADV acquired a new stake in shares of Arista Networks in the fourth quarter valued at about $1,549,000. Bensler LLC acquired a new position in Arista Networks during the fourth quarter worth about $6,350,000. QRG Capital Management Inc. grew its position in Arista Networks by 6.4% during the fourth quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company’s stock worth $22,224,000 after buying an additional 10,217 shares during the period. Reaves W H & Co. Inc. purchased a new position in Arista Networks in the fourth quarter valued at about $3,058,000. Finally, Jefferies Financial Group Inc. lifted its position in shares of Arista Networks by 59.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company’s stock valued at $2,309,000 after acquiring an additional 6,591 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 428,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $177.44, for a total value of $75,944,320.00. Following the completion of the transaction, the chief executive officer directly owned 5,209,207 shares of the company’s stock, valued at $924,321,690.08. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, major shareholder Andreas Bechtolsheim sold 260,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $165.57, for a total value of $43,048,200.00. Following the completion of the sale, the insider owned 182,543,048 shares in the company, valued at $30,223,652,457.36. This represents a 0.14% 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. Over the last three months, insiders sold 2,692,983 shares of company stock valued at $452,119,385. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ANET shares. KeyCorp reissued an “overweight” rating and set a $200.00 price target (up from $178.00) on shares of Arista Networks in a research note on Thursday, June 18th. JPMorgan Chase & Co. lifted their price objective on Arista Networks from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Bank of America boosted their target price on Arista Networks from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Wolfe Research restated an “outperform” rating and issued a $175.00 price target on shares of Arista Networks in a research report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised Arista Networks to a “buy” rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $188.95.

Arista Networks Price Performance

Shares of ANET opened at $169.17 on Tuesday. The firm has a 50 day simple moving average of $162.41 and a 200-day simple moving average of $147.60. Arista Networks, Inc. has a 1-year low of $106.99 and a 1-year high of $189.82. The stock has a market cap of $213.02 billion, a price-to-earnings ratio of 57.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.60.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 3.28 earnings per share for the current fiscal year.

About Arista Networks

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.