Sequoia Financial Advisors LLC Has $2.27 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Sequoia Financial Advisors LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,917 shares of the technology company’s stock after purchasing an additional 316 shares during the period. Sequoia Financial Advisors LLC’s holdings in Arista Networks were worth $2,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd boosted its stake in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after buying an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Arista Networks during the 1st quarter valued at approximately $1,405,000. M&G Plc bought a new stake in shares of Arista Networks during the 1st quarter valued at approximately $3,238,000. Nordea Investment Management AB lifted its stake in Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares during the last quarter. Finally, Deepwater Asset Management LLC acquired a new stake in Arista Networks in the second quarter valued at approximately $15,084,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Shares of ANET stock opened at $395.57 on Friday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The stock has a 50 day simple moving average of $370.52 and a two-hundred day simple moving average of $333.77. The company has a market cap of $123.96 billion, a P/E ratio of 55.09, a PEG ratio of 3.21 and a beta of 1.07.

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 company had revenue of $1.69 billion during 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%. Arista Networks’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. On average, research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.50.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the transaction, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders have sold 58,570 shares of company stock valued at $21,474,782 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

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.