Seven Post Investment Office LP Cuts Holdings in Arista Networks, Inc. (NYSE:ANET)

Seven Post Investment Office LP lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,900 shares of the technology company’s stock after selling 1,000 shares during the period. Seven Post Investment Office LP’s holdings in Arista Networks were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares during the period. FMR LLC boosted its holdings in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC increased its stake in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Arista Networks by 5.0% during the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after acquiring an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Arista Networks by 0.8% in the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after acquiring an additional 14,627 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $922,301.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Arista Networks news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,974 shares of company stock valued at $96,252,685. 18.99% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock traded up $12.54 on Friday, reaching $274.40. The company had a trading volume of 2,883,651 shares, compared to its average volume of 2,426,995. The firm has a market cap of $85.79 billion, a PE ratio of 41.77, a PEG ratio of 2.34 and a beta of 1.13. The firm’s 50 day moving average price is $279.07 and its two-hundred day moving average price is $249.25. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts predict that Arista Networks, Inc. will post 6.74 EPS for the current year.

Wall Street Analyst Weigh In

ANET has been the subject of several research reports. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research note on Wednesday, March 27th. KeyCorp increased their target price on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Barclays boosted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Wells Fargo & Company lifted their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.53.

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.