Sequoia Financial Advisors LLC Has $3 Million Position in Arista Networks, Inc. (NYSE:ANET)

Sequoia Financial Advisors LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 358.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,150 shares of the technology company's stock after purchasing an additional 21,233 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Arista Networks were worth $3,001,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitlin John LLC lifted its stake in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock valued at $27,000 after acquiring an additional 191 shares during the period. Cranbrook Wealth Management LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Trust Co. of Vermont lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock valued at $29,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 491,001 shares of company stock worth $49,112,111. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $80.11 on Friday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The business has a 50-day moving average of $106.38 and a two-hundred day moving average of $101.73. The company has a market capitalization of $101.02 billion, a P/E ratio of 36.08, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

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Arista Networks (NYSE:ANET - Get Free Report) last announced 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 company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ANET shares. Citigroup upped their price target on Arista Networks from $115.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of Arista Networks in a report on Monday, March 3rd. Wells Fargo & Company reiterated an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average 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.

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