Patten Group Inc. Invests $513,000 in Arista Networks, Inc. $ANET

Patten Group Inc. acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the first quarter, HoldingsChannel reports. The firm acquired 4,175 shares of the technology company’s stock, valued at approximately $513,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Arista Networks during the 4th quarter worth approximately $1,558,563,000. Arrowstreet Capital Limited Partnership grew its position in shares of Arista Networks by 82.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock valued at $1,396,939,000 after buying an additional 4,332,659 shares during the last quarter. M&T Bank Corp grew its position in shares of Arista Networks by 3,182.7% in the 4th quarter. M&T Bank Corp now owns 4,012,373 shares of the technology company’s stock valued at $525,741,000 after buying an additional 3,890,146 shares during the last quarter. Franklin Resources Inc. raised its stake in Arista Networks by 59.3% during the 4th quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company’s stock worth $1,032,302,000 after acquiring an additional 2,934,098 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Arista Networks by 86.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,240,951 shares of the technology company’s stock worth $520,168,000 after acquiring an additional 1,960,829 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, 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 transaction of $43,048,200.00. Following the completion of the transaction, the insider owned 182,543,048 shares in the company, valued at approximately $30,223,652,457.36. This represents a 0.14% decrease in their position. The sale was disclosed in a filing 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, CFO Chantelle Yvette Breithaupt sold 2,448 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $157.00, for a total transaction of $384,336.00. Following the completion of the sale, the chief financial officer owned 64,408 shares of the company’s stock, valued at $10,112,056. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 2,639,080 shares of company stock valued at $430,322,162. 2.70% of the stock is currently owned by company insiders.

Arista Networks Stock Up 0.2%

ANET opened at $160.38 on Friday. Arista Networks, Inc. has a 52 week low of $100.33 and a 52 week high of $179.80. The business has a 50 day moving average price of $159.07 and a two-hundred day moving average price of $143.91. The company has a market cap of $201.95 billion, a PE ratio of 54.93, a P/E/G ratio of 2.47 and a beta of 1.60.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.62 billion. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 3.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Susquehanna upgraded shares of Arista Networks to a “strong-buy” rating in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft raised Arista Networks to a “buy” rating in a report on Wednesday, June 10th. Zacks Research cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Wolfe Research restated an “outperform” rating and set a $175.00 price target on shares of Arista Networks in a research note on Wednesday, June 10th. Finally, Truist Financial set a $175.00 price target on Arista Networks in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $187.63.

Arista Networks 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.