On June 3, Arista Networks fell 3.39% in regular trading, trading at $170.82/share with trading volume of $199 million, pulling back after three consecutive sessions of gains totaling over 8%.

The broader communication equipment sector saw widespread selling pressure, with Ondas Holdings down 9.61%, Lumentum down 6.02%, Applied Optoelectronics down 4.85%, and Cisco down 1.44%. Additionally, director Andreas Bechtolsheim sold a total of 220,000 shares on May 26 through a family trust, a large-scale insider disposition that may have added to near-term selling pressure. The pullback follows a strong rally supported by Evercore maintaining the stock on its Outperform Select list with a $200 target price and $300 bull-case target, citing surging AI data center interconnect demand and a raised AI revenue target of $3.5 billion.

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