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

Sei Investments Co. lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 284.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,475,850 shares of the technology company's stock after acquiring an additional 1,092,258 shares during the period. Sei Investments Co. owned 0.12% of Arista Networks worth $163,123,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company's stock worth $51,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC grew its position in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company's stock valued at $52,000 after purchasing an additional 35 shares during the period. Caitlin John LLC increased its stake in Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after purchasing an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after buying an additional 191 shares during the period. Finally, New Millennium Group LLC boosted its stake in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

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Arista Networks Stock Down 0.7 %

Shares of NYSE ANET traded down $0.64 during trading on Tuesday, reaching $86.87. 7,776,843 shares of the stock were exchanged, compared to its average volume of 8,570,789. The company has a market capitalization of $109.55 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The business's 50-day moving average price is $102.03 and its 200 day moving average price is $101.92. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the transaction, the director now directly owns 163,784 shares of the company's stock, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Arista Networks in a research note on Monday, March 3rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a "sell" rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $114.00.

About Arista Networks

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.