Arista Networks, Inc.
At today's price, Arista Networks, Inc. (ANET) is priced for today's economics sustained for ~11.5 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Arista builds the high-speed Ethernet switching that stitches together AI and cloud data centers, selling to three buyer types: Cloud and AI Titans, AI and specialty providers, and enterprises, with the AI buildout now the dominant demand driver. • The business is extraordinarily profitable and debt-free, running a roughly 43% operating margin with over $12 billion of net cash and no borrowings, so the risk is not solvency, it is the price. • At about 53 times operating income the price sits a
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1,965 institutional managers reported holding ANET in 13F filings for the quarter ended 2026-03-31. Together they hold about 68% of the company; the top 10 hold 33%. 180 opened new positions that quarter. Held by Vanguard Group, BlackRock, FMR (Fidelity), among others. On the short side, 20.2M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ANET's share count grew 2.8% over the past five years even with $3.12B spent on repurchases. It pays no dividend. Cash returned over the past three years: $2.03B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at ANET over the trailing three years. Absence is a fact about the company, not a signal. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ANET's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-02 | +22.9% | +4.9% |
| 2023-11-01 | +13.7% | +8.8% |
| 2024-02-14 | -6.0% | -2.4% |
| 2024-05-09 | +4.6% | +21.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ANET's latest 8-K filings: 2026-06-02 (items 5.07); 2026-05-05 (items 2.02, 9.01); 2026-02-12 (items 2.02, 9.01); 2025-11-04 (items 2.02, 9.01); 2025-09-08 (items 5.02, 5.03, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.