Arista Networks, Inc. $ANET Stock: Sumitomo Mitsui DS Asset Management Company Ltd Lowers Holdings

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,212 shares of the technology company’s stock after selling 13,675 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Arista Networks were worth $50,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Davidson Trust Co. purchased a new stake in shares of Arista Networks during the third quarter worth about $3,512,000. Deutsche Bank AG increased its holdings in shares of Arista Networks by 4.3% during the second quarter. Deutsche Bank AG now owns 9,357,496 shares of the technology company’s stock valued at $1,589,651,000 after acquiring an additional 388,354 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Arista Networks by 2,827.9% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 52,381 shares of the technology company’s stock valued at $10,664,000 after purchasing an additional 50,592 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new position in shares of Arista Networks in the 1st quarter valued at approximately $5,279,000. Finally, Whitaker Myers Wealth Managers LTD. raised its position in shares of Arista Networks by 564.1% in the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 16,847 shares of the technology company’s stock valued at $2,862,000 after purchasing an additional 14,310 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ANET. Deutsche Bank Aktiengesellschaft started 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $220.00 price target (up from $190.00) on shares of Arista Networks in a report on Wednesday, August 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up from $181.00) on shares of Arista Networks in a report on Wednesday, August 5th. Truist Financial lifted their price objective on shares of Arista Networks from $175.00 to $234.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Bank of America reissued a “buy” rating and set a $240.00 price objective (up from $200.00) on shares of Arista Networks in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $235.45.

Insider Buying and Selling

In other news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $203.30, for a total value of $60,990,000.00. Following the sale, the insider directly owned 181,143,048 shares of the company’s stock, valued at $36,826,381,658.40. This represents a 0.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 767,029 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $201.22, for a total transaction 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. The trade was 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. Insiders have sold a total of 3,584,116 shares of company stock valued at $733,396,013 over the last three months. 2.70% of the stock is currently owned by insiders.

Arista Networks Stock Up 3.3%

Shares of NYSE:ANET opened at $182.88 on Tuesday. Arista Networks, Inc. has a 52-week low of $114.52 and a 52-week high of $217.41. The stock has a market cap of $230.65 billion, a price-to-earnings ratio of 57.69, a PEG ratio of 2.06 and a beta of 1.60. The business has a 50-day moving average price of $198.29 and a 200-day moving average price of $175.18.

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

Arista Networks Profile

Arista Networks, Inc develops and sells cloud networking solutions for data centers, cloud service providers, enterprises and specialized computing environments. The company’s products are designed to support high-performance, scalable and automated networks used for cloud computing, artificial intelligence, data analytics and other demanding applications.

Arista’s portfolio includes data center and campus switches, routing platforms, wireless networking products, network operating software and network management tools.