Arista Networks, Inc. (NYSE:ANET) Stake Decreased by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,841 shares of the technology company’s stock after selling 65,599 shares during the quarter. Sei Investments Co.’s holdings in Arista Networks were worth $143,987,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ANET. FCG Investment Co lifted its stake in shares of Arista Networks by 2.3% in the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares during the period. Old Port Advisors lifted its position in Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares during the period. Fortitude Family Office LLC boosted its stake in Arista Networks by 33.3% during the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Arista Networks by 4.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC raised its stake in shares of Arista Networks by 2.1% in the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after buying an additional 37 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $400.00 target price on shares of Arista Networks in a report on Friday, September 13th. KeyCorp lifted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Bank of America increased their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Barclays upped their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares in the company, valued at $883,278.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares in the company, valued at $883,278.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total transaction of $705,860.00. Following the transaction, the director now owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,361 shares of company stock worth $38,024,123. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE:ANET opened at $384.46 on Friday. The stock has a market cap of $120.48 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $385.50. The stock’s 50-day moving average is $341.55 and its two-hundred day moving average is $316.46.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS. On average, equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.