Ullal Jayshree sold $2.6M of ANET

BECHTOLSHEIM ANDREAS sold 300,000 indirectly-held shares of Arista Networks, Inc. (ANET) at an average of $198.95 ($193.61–$204.31, $59.69M total) across 12 trades on 2026-09-17 under a Rule 10b5-1 trading plan.

Jim Cramer expressed confidence in Arista Networks (ANET) CEO Jayshree Ullal and the company's performance. ANET reported $3.036B in Q2 revenue, up 38% YoY, and raised its 2026 revenue guidance to $12.6B. The company faces risks from customer concentration and gross margin pressure, but hedge funds show strong conviction in its AI infrastructure growth.

Arista Networks (ANET) will join the S&P 100 on September 21, replacing Nike. The company reported Q2 2026 revenue of $3.036 billion, up 37.7% YoY, and raised full-year guidance to ~$12.6 billion. CFO Chantelle Breithaupt highlighted multiyear purchase commitments of $9.7 billion and deferred revenue as key metrics. The stock trades at a forward P/E of ~43, with a mid-target price of ~$410, suggesting ~105% potential total return.

Arista Networks (ANET) reported 33% revenue growth and 43% operating margin, driven by demand for its AI networking solutions. The stock trades at a 59.6 P/E ratio, 9% below its 2-year high. Management raised 2026 revenue guidance to $12.6B, citing supply chain challenges as a risk.

Ciena (CIEN) fell 10% despite beating earnings estimates, as in-line Q4 guidance disappointed investors. Arista (ANET) rose 3% on AI networking momentum. Cisco (CSCO) remained flat, and sector ETFs traded higher, indicating Ciena's drop is company-specific. Ciena reported $2.11 EPS and $1.67B revenue for Q3, with a 46.4% gross margin.

Ciena (CIEN) fell 10% despite beating earnings due to in-line Q4 guidance. Arista (ANET) rose 3% on AI networking demand. Cisco (CSCO) was flat. Ciena's revenue grew 37% YoY to $1.67B, but guidance matched estimates. Two customers drove 42% of Ciena's revenue, raising concentration concerns. IYW ETF rose, suggesting Ciena's drop is company-specific.