Arista Networks, Inc. (NYSE: ANET) is a leading provider of high-performance networking equipment used by hyperscalers, cloud providers, and large enterprises. Shares recently traded around $138 per share, giving the company a market capitalization of roughly $168.2B.
Arista Networks has benefited from sustained demand for cloud infrastructure and increased investment in AI-driven data centers. Looking at who owns Arista Networks and recent insider trades helps show how large investors appear to be positioning around the stock today.
Who Are Arista Networks’ Top Shareholders?
Arista Networks’ shareholder base is led by a large insider-aligned trust alongside major passive institutions. These holders tend to remain invested through market cycles, which can help keep long term ownership relatively stable. Active managers adjusted positions in both directions, suggesting a mix of conviction and valuation discipline.
- Bechtolsheim Family Trust: 183,641,896 shares (14.58%), $24.5B value. Added 413,848 shares (+0.23%).
- The Vanguard Group: 99,510,908 shares (7.90%), $13.3B value. Added 998,110 shares (+1.01%).
- BlackRock Institutional Trust: 56,665,633 shares (4.50%), $7.6B value. Added 1,244,919 shares (+2.25%).
- State Street Investment Management: 46,342,551 shares (3.68%), $6.2B value. Added 245,976 shares (+0.53%).
- Jayshree Ullal: 37,350,285 shares (2.97%), $5.0B value. No reported change.
- T. Rowe Price Associates: 35,248,719 shares (2.80%), $4.7B value. Added 31,517,829 shares (+844.78%).
- Fidelity Management & Research: 29,547,811 shares (2.35%), $3.9B value. Added 6,491,593 shares (+28.16%).
- Geode Capital Management: 25,970,004 shares (2.06%), $3.5B value. Added 393,521 shares (+1.54%).
- Cresset Asset Management: 21,806,490 shares (1.73%), $2.9B value. Cut 4,567,883 shares (-17.32%).
- Capital Research Global Investors: 17,738,184 shares (1.41%), $2.4B value. Cut 1,724,585 shares (-8.86%).
For investors, this ownership mix suggests Arista Networks continues to benefit from strong institutional support, while active managers appear to be adjusting exposure primarily based on valuation rather than changes in the company’s long term fundamentals.
Hedge Fund Highlights
Squarepoint Ops LLC increased its stake in Arista Networks by 406%, bringing its position to roughly $70M value. The size of the increase suggests the fund may be leaning more positively on Arista’s earnings momentum tied to cloud and AI infrastructure, while still keeping position sizing measured.
Gotham Asset Management, led by Joel Greenblatt, boosted its Arista Networks holdings by about 157% to approximately $23M value. The move stands out given Gotham’s selective approach and may indicate confidence in the durability of Arista’s business model despite its premium valuation.
Jefferies Financial Group, founded by Boyd Jefferies, raised its exposure by more than 5,200%, lifting its position to around $1.6M value. While still small in absolute terms, the scale of the increase suggests growing interest rather than disengagement.
Capula Management, led by Yan Huo, expanded its Arista Networks position by roughly 8,200%, bringing total holdings to about $48k value. Although modest, the move suggests some funds are beginning to build exposure rather than exit.
For investors, hedge fund activity around Arista Networks appears selective and disciplined, pointing to continued interest without a clear consensus at current price levels.
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Arista Networks’ Recent Insider Trades
Insider trades can offer useful context on how executives and directors may be managing personal exposure, though intent is often unclear.
- Kenneth Duda (Officer and Director): Sold multiple small blocks between ~$122 and ~$126 on 12/16/25, totaling several thousand shares, each representing ~0.00% of shares outstanding.
- Kenneth Duda: Additional zero-price and low-price entries, including a 30,000-share transaction at $3.52, which it appears relates to compensation or internal adjustments rather than open-market activity.
For investors, insider activity appears limited in size and spread across multiple filings. It looks like exposure management rather than a strong directional signal on the stock.
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What the Ownership & Insider Trade Data Tell Us
Arista Networks’ shareholder base is anchored by an insider-aligned trust tied to founder Andy Bechtolsheim, alongside major passive institutions. This structure can help provide long term ownership stability.
Active managers and insiders appear to be adjusting positions in a measured way, suggesting differing views on valuation rather than confidence in the company’s long term role in cloud and AI networking.
For investors, the data points to continued institutional confidence in Arista Networks’ business model, alongside a more cautious stance as expectations for growth remain elevated.
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