Sei Investments Co. Has $77.58 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Sei Investments Co. lessened its position in Arista Networks, Inc. (NYSE:ANET – Get Rating) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 639,291 shares of the technology company’s stock after selling 244,192 shares during the quarter. Sei Investments Co. owned approximately 0.21% of Arista Networks worth $77,579,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trifecta Capital Advisors LLC acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $27,000. TCI Wealth Advisors Inc. increased its holdings in shares of Arista Networks by 126.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 297 shares of the technology company’s stock worth $36,000 after acquiring an additional 166 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $57,000. Covestor Ltd increased its holdings in shares of Arista Networks by 44.2% during the 1st quarter. Covestor Ltd now owns 496 shares of the technology company’s stock worth $69,000 after acquiring an additional 152 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 64.30% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, COO Anshul Sadana sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $150.03, for a total value of $1,500,300.00. Following the completion of the sale, the chief operating officer now directly owns 82,711 shares of the company’s stock, valued at $12,409,131.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John F. Mccool sold 2,824 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $142.07, for a total value of $401,205.68. Following the completion of the transaction, the insider now directly owns 72 shares of the company’s stock, valued at $10,229.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Anshul Sadana sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $150.03, for a total value of $1,500,300.00. Following the completion of the transaction, the chief operating officer now directly owns 82,711 shares of the company’s stock, valued at $12,409,131.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,130 shares of company stock valued at $50,927,557. 19.59% of the stock is owned by insiders.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $8.30 on Friday, hitting $164.50. 2,011,786 shares of the company’s stock traded hands, compared to its average volume of 2,733,387. The company has a fifty day moving average of $154.14 and a two-hundred day moving average of $138.49. The company has a market capitalization of $50.71 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. Arista Networks, Inc. has a one year low of $89.11 and a one year high of $171.44.

Arista Networks (NYSE:ANET – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The technology company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Arista Networks had a return on equity of 31.33% and a net margin of 31.24%. The company’s quarterly revenue was up 54.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ANET. Cowen boosted their price target on Arista Networks from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, February 14th. Needham & Company LLC upped their target price on Arista Networks from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Barclays boosted their price target on Arista Networks from $177.00 to $179.00 in a report on Tuesday, May 2nd. The Goldman Sachs Group boosted their price target on Arista Networks from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, April 5th. Finally, JMP Securities boosted their price target on Arista Networks from $135.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.85.

About Arista Networks

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.