Legacy Wealth Partners LLC Acquires New Stake in Arista Networks, Inc. $ANET

Legacy Wealth Partners LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, Holdings Channel.com reports. The institutional investor bought 4,831 shares of the technology company’s stock, valued at approximately $984,000.

Several other institutional investors also recently bought and sold shares of the company. Main Street Group LTD purchased a new position in Arista Networks in the first quarter worth $26,000. Sankala Group LLC purchased a new stake in shares of Arista Networks during the 4th quarter valued at $27,000. ABS Investment Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter valued at $29,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Arista Networks during the 2nd quarter valued at $29,000. Finally, Hilton Head Capital Partners LLC lifted its holdings in shares of Arista Networks by 184.9% during the 1st quarter. Hilton Head Capital Partners LLC now owns 245 shares of the technology company’s stock valued at $30,000 after purchasing an additional 159 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Andreas Bechtolsheim sold 300,000 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $198.95, for a total value of $59,685,000.00. Following the transaction, the insider directly owned 180,543,048 shares of the company’s stock, valued at $35,919,039,399.60. This represents a 0.17% decrease in their position. The transaction was disclosed in a legal 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, CFO Chantelle Breithaupt sold 1,224 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $215.00, for a total value of $263,160.00. Following the completion of the transaction, the chief financial officer directly owned 68,697 shares in the company, valued at approximately $14,769,855. The trade was a 1.75% decrease in their ownership of the stock. 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 sold 3,627,449 shares of company stock valued at $740,784,723. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $240.00 price objective (up from $181.00) on shares of Arista Networks in a research report on Wednesday, August 5th. Bank of America reaffirmed a “buy” rating and set a $240.00 target price (up from $200.00) on shares of Arista Networks in a research report on Wednesday, August 5th. TD Cowen increased their price target on Arista Networks from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on Arista Networks in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $250.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Arista Networks in a report on Monday, August 31st. They issued a “buy” rating and a $220.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.45.

Arista Networks Trading Down 5.1%

NYSE:ANET opened at $185.53 on Friday. The company has a market cap of $234.00 billion, a PE ratio of 58.53, a P/E/G ratio of 2.27 and a beta of 1.60. Arista Networks, Inc. has a twelve month low of $114.52 and a twelve month high of $217.41. The company’s 50 day moving average is $198.69 and its two-hundred day moving average is $174.33.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The business had revenue of $3.04 billion for 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 revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 EPS. Arista Networks has set its Q3 2026 guidance at 1.060-1.080 EPS. As a group, analysts expect that Arista Networks, Inc. will post 3.79 EPS for the current fiscal year.

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.