J. Goldman takes new $6.97M stake in Arista Networks
What's the deal? J. Goldman & Co LPDealroom has a profile for this one. Try Dealroom → acquired a new position in Arista Networks (NYSE:ANET) during the second quarter, buying 41,022 shares worth about $6,969,000, according to HoldingsChannel.com.
Why now? The move lands amid heavy institutional interest in the networking company, which builds data-center switches and networking hardware. Institutional investors and hedge funds own 82.47% of Arista's stock.
Who else is buying? QRG Capital ManagementDealroom has a profile for this one. Try Dealroom → lifted its holdings 6.4% in the fourth quarter to 169,613 shares worth $22,224,000, while Jefferies Financial GroupDealroom has a profile for this one. Try Dealroom → boosted its position 59.8% to 17,621 shares. Bensler LLCDealroom has a profile for this one. Try Dealroom → and Reaves W H & Co.Dealroom has a profile for this one. Try Dealroom → opened new stakes of about $6,350,000 and $3,058,000, respectively.
What are analysts saying? Brokerages remain bullish. Deutsche BankDealroom has a profile for this one. Try Dealroom → upgraded Arista to "buy" in June, and Wells FargoDealroom has a profile for this one. Try Dealroom → lifted its price target to $255.00 in August. Twenty-two analysts rate the stock a buy and two a strong buy, against one hold, for a consensus "Buy" and a $226.05 price target.
What could go wrong? Insiders are selling. Chief executive officer Jayshree Ullal sold 767,029 shares on August 5 at an average $201.22, a $154.3 million transaction, while co-founder Andreas Bechtolsheim sold 300,000 shares the same day for about $60,990,000. Both sales ran through pre-arranged Rule 10b5-1 plans. Over 90 days, insiders sold 3,936,273 shares worth $738,411,668.
The signal: Institutional buyers keep piling into Arista on its exposure to AI-driven data-center spending, even as insiders trim their own holdings — a split worth watching as the networking supplier rides the AI infrastructure wave.
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