Arista Networks, Inc.
In the published model solve dated 2026-Q2, anchored at $195.08, Arista Networks, Inc. (ANET) is priced for today's economics sustained for ~11.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• One software code base running across the entire switch line is the structural advantage, and it shows up as a 43.1% operating margin against CSCO at 23.4% and FTNT at 31.1% on their own filed numbers. • Concentration is the specific vulnerability: the FY2025 10-K discloses that one end customer accounted for 26% of total revenue and another for 16%, so more than four dollars in ten depend on two buyers. • Second-quarter results land August 4, 2026, measured against a full-year revenue target
Is ANET overvalued? See what's priced in →
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: 2026-08-04 (items 2.02, 9.01); 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).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
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.