Renasant Bank Has $1.39 Million Holdings in Arista Networks, Inc. $ANET

Renasant Bank increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 365.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,150 shares of the technology company’s stock after purchasing an additional 6,398 shares during the period. Renasant Bank’s holdings in Arista Networks were worth $1,385,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ABS Investment Management LLC bought a new stake in Arista Networks in the 2nd quarter valued at $29,000. Kelleher Financial Advisors acquired a new position in shares of Arista Networks in the 2nd quarter valued at $31,000. Sankala Group LLC bought a new position in shares of Arista Networks during the 4th quarter worth about $27,000. Prosperity Bancshares Inc bought a new position in shares of Arista Networks during the 4th quarter worth about $28,000. Finally, Main Street Group LTD acquired a new stake in shares of Arista Networks during the 1st quarter valued at about $26,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kenneth Duda sold 17,333 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $185.42, for a total transaction of $3,213,884.86. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $2,406,009.92. This trade represents a 57.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $202.60, for a total value of $60,780,000.00. Following the completion of the transaction, the insider owned 180,843,048 shares of the company’s stock, valued at approximately $36,638,801,524.80. The trade was a 0.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,242,082 shares of company stock valued at $800,487,376 in the last 90 days. Insiders own 2.70% of the company’s stock.

Arista Networks Stock Up 0.2%

NYSE:ANET opened at $195.74 on Tuesday. The firm has a market cap of $246.87 billion, a PE ratio of 61.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.60. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $214.89. The company’s 50-day moving average price is $180.70 and its two-hundred day moving average price is $158.88.

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 during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s 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. On average, research analysts expect that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the topic of a number of analyst reports. Weiss Ratings cut shares of Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. TD Cowen raised their price target on shares of Arista Networks from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Barclays reaffirmed an “overweight” rating and set a $289.00 price objective (up from $195.00) on shares of Arista Networks in a report on Wednesday, August 5th. Truist Financial upped their price objective on Arista Networks from $175.00 to $234.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $225.76.

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.