Seven Mile Advisory Purchases 1,950 Shares of Arista Networks, Inc. (NYSE:ANET)

Seven Mile Advisory lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 284.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,636 shares of the technology company’s stock after purchasing an additional 1,950 shares during the period. Seven Mile Advisory’s holdings in Arista Networks were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. Anchor Investment Management LLC increased its holdings in Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares in the last quarter. LRI Investments LLC boosted its position in shares of Arista Networks by 3.1% during the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after buying an additional 41 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Arista Networks by 3.8% during the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after buying an additional 43 shares in the last quarter. Old North State Trust LLC raised its position in Arista Networks by 6.9% in the 3rd quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock valued at $526,000 after buying an additional 89 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Arista Networks by 0.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company’s stock valued at $4,883,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 51,848 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total transaction of $6,788,000.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 491,001 shares of company stock valued at $49,112,111. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $77.91 on Monday. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.58. The company’s fifty day simple moving average is $99.16 and its two-hundred day simple moving average is $101.91. The stock has a market capitalization of $98.25 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Equities research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target 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.