State Street Corp Acquires 74,541,134 Shares of Arista Networks, Inc. $ANET

State Street Corp lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 159.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 121,303,125 shares of the technology company’s stock after acquiring an additional 74,541,134 shares during the quarter. State Street Corp owned approximately 0.10% of Arista Networks worth $20,606,975,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Arista Networks by 1.8% during 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 buying an additional 477,625 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Arista Networks by 34.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,725,196 shares of the technology company’s stock valued at $1,712,788,000 after acquiring an additional 2,497,275 shares during the period. Deutsche Bank AG raised its position in shares of Arista Networks by 4.3% in the 2nd quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock worth $1,589,651,000 after acquiring an additional 388,354 shares in the last quarter. Norges Bank bought a new position in shares of Arista Networks in the 4th quarter worth $1,558,563,000. Finally, Wellington Management Group LLP lifted its stake in shares of Arista Networks by 5.9% during the 2nd quarter. Wellington Management Group LLP now owns 8,440,963 shares of the technology company’s stock worth $1,433,951,000 after purchasing an additional 470,451 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET stock traded down $1.37 during trading on Tuesday, reaching $204.05. The company had a trading volume of 1,698,791 shares, compared to its average volume of 8,133,324. The company has a market cap of $257.35 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 2.37 and a beta of 1.62. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89. The firm has a 50-day simple moving average of $188.10 and a 200-day simple moving average of $165.18.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business’s quarterly 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. Sell-side analysts expect that Arista Networks, Inc. will post 3.7 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, CFO Chantelle Breithaupt sold 612 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $195.77, for a total transaction of $119,811.24. Following the sale, the chief financial officer owned 69,921 shares in the company, valued at approximately $13,688,434.17. The trade was a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 13,809 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $191.79, for a total value of $2,648,428.11. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares in the company, valued at $1,901,981.43. This represents a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have 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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TD Cowen raised their price objective on Arista Networks from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reissued a “buy” rating and set a $225.00 price target on shares of Arista Networks in a research report on Wednesday, August 5th. Wolfe Research restated an “outperform” rating and issued a $175.00 price target on shares of Arista Networks in a report on Wednesday, June 10th. Evercore reiterated an “outperform” rating on shares of Arista Networks in a research note on Thursday, September 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Arista Networks in a research note on Monday, August 31st. They issued a “buy” rating and a $220.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $227.80.

Arista Networks Profile

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.