Arista Networks, Inc. (NYSE:ANET) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,841 shares of the technology company’s stock after selling 65,599 shares during the period. Sei Investments Co. owned approximately 0.13% of Arista Networks worth $143,987,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ANET. Vanguard Group Inc. increased its stake in Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. Capital World Investors grew its holdings in shares of Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the period. WCM Investment Management LLC increased its position in Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after purchasing an additional 25,196 shares in the last quarter. GQG Partners LLC purchased a new position in Arista Networks in the first quarter valued at approximately $881,848,000. Finally, Swedbank AB acquired a new position in Arista Networks during the first quarter valued at approximately $521,767,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of ANET stock opened at $384.46 on Friday. The firm has a fifty day moving average of $341.55 and a two-hundred day moving average of $316.46. The firm has a market cap of $120.48 billion, a P/E ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $385.50.

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

Insider Activity

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s 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 directly owns 52,946 shares in the company, valued at $18,686,231.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the sale, the director now owns 52,946 shares in the company, valued at $18,686,231.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at approximately $569,700,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,361 shares of company stock worth $38,024,123. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Bank of America raised their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Wells Fargo & Company upped their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. KeyCorp raised their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $358.63.

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.