Sei Investments Co. Cuts Stake in Arista Networks Inc (NYSE:ANET)

Sei Investments Co. reduced its holdings in shares of Arista Networks Inc (NYSE:ANET) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 338,619 shares of the technology company’s stock after selling 6,772 shares during the period. Sei Investments Co. owned about 0.44% of Arista Networks worth $68,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Laurel Wealth Advisors LLC grew its holdings in Arista Networks by 38.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 50 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in Arista Networks by 4.5% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,163 shares of the technology company’s stock worth $236,000 after acquiring an additional 50 shares in the last quarter. Capital City Trust Co. FL grew its holdings in Arista Networks by 1.2% during the 4th quarter. Capital City Trust Co. FL now owns 4,973 shares of the technology company’s stock worth $1,011,000 after acquiring an additional 58 shares in the last quarter. Concorde Asset Management LLC grew its holdings in Arista Networks by 1.5% during the 4th quarter. Concorde Asset Management LLC now owns 4,081 shares of the technology company’s stock worth $830,000 after acquiring an additional 61 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in Arista Networks by 3.3% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 2,072 shares of the technology company’s stock worth $495,000 after acquiring an additional 66 shares in the last quarter. 59.60% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on ANET shares. Wolfe Research lowered their price target on shares of Arista Networks from $270.00 to $200.00 and set a “peer perform” rating for the company in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Arista Networks in a report on Tuesday. Cowen lowered their price target on shares of Arista Networks from $295.00 to $212.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Co reiterated a “market perform” rating and set a $205.00 price target (down previously from $270.00) on shares of Arista Networks in a report on Friday, November 1st. Finally, Morgan Stanley boosted their price target on shares of Arista Networks from $195.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $230.08.

Shares of Arista Networks stock traded down $14.15 during trading hours on Friday, hitting $223.47. The company had a trading volume of 2,113,736 shares, compared to its average volume of 716,957. The company’s 50-day moving average is $219.42 and its two-hundred day moving average is $221.05. Arista Networks Inc has a twelve month low of $173.31 and a twelve month high of $331.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47. The company has a market cap of $17.76 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, February 13th. The technology company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.46. The business had revenue of $552.55 million during the quarter, compared to analysts’ expectations of $550.63 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. During the same quarter in the prior year, the business posted $2.25 EPS. Sell-side analysts expect that Arista Networks Inc will post 8.56 EPS for the current year.

In related news, SVP Kenneth Duda sold 10,876 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $192.57, for a total transaction of $2,094,391.32. Following the completion of the sale, the senior vice president now owns 3,987 shares in the company, valued at approximately $767,776.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 329 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $194.00, for a total transaction of $63,826.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,648 shares of company stock valued at $10,645,433. 23.83% of the stock is owned by company insiders.

Arista Networks Company Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

Recommended Story: What is the S&P/TSX Index?

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.