Arista Networks, Inc. $ANET Stake Raised by Truist Financial Corp

Truist Financial Corp boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 658,251 shares of the technology company’s stock after acquiring an additional 52,989 shares during the quarter. Truist Financial Corp owned about 0.05% of Arista Networks worth $67,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Arista Networks by 1.8% in the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company’s stock worth $7,581,955,000 after acquiring an additional 1,771,982 shares in the last quarter. Alliancebernstein L.P. raised its position in Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock worth $1,778,880,000 after acquiring an additional 1,889,198 shares in the last quarter. Nuveen LLC bought a new stake in Arista Networks in the first quarter worth about $933,626,000. Northern Trust Corp raised its position in Arista Networks by 3.7% in the first quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company’s stock worth $799,244,000 after acquiring an additional 372,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Arista Networks by 37.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,552,484 shares of the technology company’s stock worth $740,126,000 after acquiring an additional 2,594,184 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Melius Research boosted their price objective on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Wolfe Research boosted their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. UBS Group boosted their price objective on Arista Networks from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Piper Sandler boosted their price objective on Arista Networks from $89.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 1,247,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the sale, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,670,904 shares of company stock valued at $892,841,241. 3.39% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET opened at $149.32 on Thursday. The company has a market capitalization of $187.67 billion, a price-to-earnings ratio of 58.73, a P/E/G ratio of 3.04 and a beta of 1.47. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $156.32. The business’s 50-day moving average is $136.30 and its 200-day moving average is $105.52.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.11 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Arista Networks has set its Q3 2025 guidance at EPS. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.