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NYSE · Telecommunications

ARISTA NETWORKS INC ANET

Arista Networks is a network equipment provider of high-performance Ethernet switches and EOS operating system for hyperscale data centers, cloud networks and campus networks. The company's core business revolves around AI-driven high-speed networks (400G/800G/1.6T) and cloud data centers, benefiting from the expansion of AI clusters and traditional cloud customers. The key points of investment analysis are the long-term growth potential of its AI network market, its competitive relationship with Nvidia, and the resilience of its supply chain.

Sources Company earnings and call materials quartr.com
Computer Communications Equipment

Company profile

Business mix

  • High-speed data center Ethernet switches and EOS software serve ultra-large-scale cloud customers (such as Microsoft, Meta), finance, campus networks, etc.
  • The total addressable market (TAM) has expanded from US$50 billion to US$105 billion and is expected to reach US$160 billion in 2030. AI and campus networks are the fastest growing sectors.
  • The transition to 1.6T/3.2T Ethernet technology promotes the upgrade cycle, and the demand for 400G/800G continues.

Current key questions

  • Due to the contradiction between the surge in demand for AI networks and the shortage of supply chains (advanced chips, memory, substrates), the company ensures that the gross profit margin is in the 62%-64% range through active management.
  • Competition and cooperation with Nvidia in AI networking, higher share in non-Nvidia GPU environments, reliance on open standards rather than vertical integration.
Holders 2 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 53.01 FCF 2.72% Buyback 0.52%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Bridgewater Associates Ray Dalio 0.7% $163.3M 2026-03-31
Giverny Capital Francois Rochon 1.9% $52.0M 2026-03-31

Recent trading changes over the last 3 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 2 Last 3 13F filing periods
Net reducers 1 Last 3 13F filing periods
Unchanged holders 0 Share count unchanged
Increase amount $69.1M Estimated from net added shares
Reduction amount $7.3M Estimated from net reduced shares
Net share change / base shares +34.3% +495,120 / 1,445,279
Bridgewater Associates Ray Dalio 3 filing periods
13F 2025-09-30 Filed 2025-11-13
Major reduction Shares -24.5% 13F value change +$7.0M
13F 2025-12-31 Filed 2026-02-13
Major increase Shares 95.4% 13F value change +$75.1M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 0.0% 13F value change -$10.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 900,577 Last 3 periods +429,514 (+47.7%) Total shares 1,330,091 Value $163.3M
Giverny Capital Francois Rochon 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Minor reduction Shares -14.5% 13F value change +$10.7M
13F 2025-12-31 Filed 2026-02-13
Minor increase Shares 1.6% 13F value change -$5.2M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 1.0% 13F value change -$2.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 482,561 Last 3 periods -59,200 (-12.3%) Total shares 423,361 Value $52.0M
Gotham Asset Management Joel Greenblatt 2 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 157.3% 13F value change +$16.9M
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 16.9% 13F value change +$1.2M
Settlement As of 13F 2025-12-31 · Filed 2026-02-17
Base shares 62,141 Last 3 periods +124,806 (+200.8%) Total shares 186,947 Value $24.5M

Recent mentions

No public mentions.