Essential Partners LLC Sells 13,764 Shares of Arista Networks, Inc. $ANET

Essential Partners LLC lessened its position in shares of Arista Networks, Inc. (NYSE:ANET) by 84.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,491 shares of the technology company’s stock after selling 13,764 shares during the period. Essential Partners LLC’s holdings in Arista Networks were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Danica Pension Livsforsikringsaktieselskab boosted its position in shares of Arista Networks by 229.0% during the 2nd quarter. Danica Pension Livsforsikringsaktieselskab now owns 154,997 shares of the technology company’s stock worth $26,331,000 after acquiring an additional 107,887 shares in the last quarter. Danske Bank A S raised its position in Arista Networks by 3.7% during the second quarter. Danske Bank A S now owns 824,943 shares of the technology company’s stock valued at $140,141,000 after purchasing an additional 29,689 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Arista Networks during the second quarter worth $12,542,000. Wealthfront Advisers LLC lifted its stake in Arista Networks by 4.6% during the second quarter. Wealthfront Advisers LLC now owns 174,820 shares of the technology company’s stock worth $29,698,000 after purchasing an additional 7,744 shares during the last quarter. Finally, Timothy G. Youngquist 2020 Irrevocable Trust boosted its holdings in shares of Arista Networks by 4,676.7% in the 2nd quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 17,435 shares of the technology company’s stock valued at $2,962,000 after purchasing an additional 17,070 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 4.6%

Shares of ANET stock opened at $192.61 on Wednesday. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $214.89. The stock’s fifty day simple moving average is $175.81 and its 200 day simple moving average is $155.48. The firm has a market capitalization of $242.93 billion, a P/E ratio of 60.76, a P/E/G ratio of 2.06 and a beta of 1.60.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, August 4th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.89 by $0.13. Arista Networks had a return on equity of 30.65% and a net margin of 38.37%.The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the company earned $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. As a group, equities research analysts expect that Arista Networks, Inc. will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, major shareholder Andreas Bechtolsheim sold 300,000 shares of Arista Networks stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $203.30, for a total transaction of $60,990,000.00. Following the transaction, the insider directly owned 181,143,048 shares of the company’s stock, valued at approximately $36,826,381,658.40. The trade was a 0.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were 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 in the company, valued at $3,297,589,536.82. This trade represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 4,334,197 shares of company stock valued at $798,500,786. 2.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 price target (up from $190.00) on shares of Arista Networks in a research note on Wednesday, August 5th. KeyCorp reissued an “overweight” rating and set a $250.00 target price (up from $200.00) on shares of Arista Networks in a research note on Wednesday, August 5th. Wells Fargo & Company reissued an “overweight” rating and issued a $255.00 target price (up from $200.00) on shares of Arista Networks in a 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 research note on Wednesday, June 10th. Finally, Jefferies Financial Group set a $250.00 price target on shares of Arista Networks in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Buy” and an average price target of $226.05.

About Arista Networks

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.