99,730 Shares in Arista Networks, Inc. $ANET Purchased by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 99,730 shares of the technology company’s stock, valued at approximately $20,304,000. Arista Networks accounts for 2.5% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 9th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ABS Investment Management LLC purchased a new position in shares of Arista Networks during the 2nd quarter valued at $29,000. ABS Direct Equity Fund LLC acquired a new position in shares of Arista Networks in the second quarter worth $29,000. Kelleher Financial Advisors purchased a new stake in shares of Arista Networks during the second quarter worth $31,000. Cornerstone Financial Management LLC raised its holdings in shares of Arista Networks by 61.9% during the second quarter. Cornerstone Financial Management LLC now owns 183 shares of the technology company’s stock worth $31,000 after acquiring an additional 70 shares in the last quarter. Finally, Sankala Group LLC acquired a new stake in Arista Networks during the fourth quarter valued at $27,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 767,029 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was 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 owned 16,387,981 shares of the company’s stock, valued at $3,297,589,536.82. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total value 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 trade represents 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. Over the last 90 days, insiders have sold 3,627,449 shares of company stock worth $740,784,723. Corporate insiders own 2.70% of the company’s stock.

Arista Networks Stock Down 6.0%

Shares of ANET traded down $11.79 during mid-day trading on Thursday, hitting $183.63. 6,222,794 shares of the company’s stock were exchanged, compared to its average volume of 7,860,031. The stock has a market cap of $231.60 billion, a price-to-earnings ratio of 57.84, a P/E/G ratio of 2.38 and a beta of 1.60. The firm has a fifty day moving average of $198.83 and a two-hundred day moving average of $173.87. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.83 billion. Arista Networks had a net margin of 38.37% and a return on equity of 30.65%. Arista Networks’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. On average, equities analysts predict that Arista Networks, Inc. will post 3.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein began coverage on Arista Networks in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $250.00 target price on the stock. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. Truist Financial raised their price target on Arista Networks from $175.00 to $234.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Arista Networks in a report on Monday, August 31st. They set a “buy” rating and a $220.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.45.

About Arista Networks

Arista Networks, Inc develops and sells cloud networking solutions for data centers, campus environments and high-performance computing applications. Its products include Ethernet switches, routers, wireless access points and related networking equipment designed to support cloud computing, artificial intelligence, enterprise and service-provider networks.

The company’s software portfolio includes Arista EOS, its network operating system, and CloudVision, a platform that helps customers manage, automate and monitor network infrastructure.