Assetmark Inc. Has $22.79 Million Stock Position in Arista Networks, Inc. $ANET

Assetmark Inc. lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 39.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 185,578 shares of the technology company’s stock after selling 118,930 shares during the period. Assetmark Inc.’s holdings in Arista Networks were worth $22,785,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Board of the Pension Protection Fund bought a new stake in shares of Arista Networks in the fourth quarter worth $26,000. Main Street Group LTD bought a new position in Arista Networks during the 1st quarter worth $26,000. Sankala Group LLC bought a new position in Arista Networks during the 4th quarter worth $27,000. Prosperity Bancshares Inc acquired a new position in Arista Networks during the 4th quarter worth about $28,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Arista Networks during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ANET shares. JPMorgan Chase & Co. increased their price target on Arista Networks from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. TD Cowen reaffirmed a “buy” rating and issued a $210.00 price objective (up from $200.00) on shares of Arista Networks in a research note on Monday, July 13th. Bank of America upped their target price on Arista Networks from $185.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 8th. Citigroup decreased their target price on shares of Arista Networks from $176.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $200.00 price target (up from $185.00) on shares of Arista Networks in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $188.95.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $167.06, for a total transaction of $1,336,480.00. Following the transaction, the director directly owned 192,333 shares in the company, valued at approximately $32,131,150.98. This represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 17,333 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $171.42, for a total transaction of $2,971,222.86. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $2,224,345.92. This trade represents a 57.19% 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. In the last three months, insiders have sold 3,092,983 shares of company stock valued at $519,161,650. Company insiders own 2.70% of the company’s stock.

Arista Networks Trading Up 0.0%

Shares of Arista Networks stock opened at $168.60 on Friday. The business has a 50-day moving average price of $161.75 and a two-hundred day moving average price of $147.25. Arista Networks, Inc. has a 1-year low of $106.99 and a 1-year high of $189.82. The company has a market cap of $212.30 billion, a P/E ratio of 57.74, a PEG ratio of 2.60 and a beta of 1.60.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. Arista Networks has set its Q2 2026 guidance at 0.880-0.880 EPS. Equities research analysts forecast that Arista Networks, Inc. will post 3.28 EPS for the current fiscal year.

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.