SeaCrest Wealth Management LLC Sells 541 Shares of Arista Networks, Inc. (NYSE:ANET)

SeaCrest Wealth Management LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,055 shares of the technology company’s stock after selling 541 shares during the period. SeaCrest Wealth Management LLC’s holdings in Arista Networks were worth $2,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GQG Partners LLC bought a new stake in Arista Networks during the 1st quarter valued at $881,848,000. Swedbank AB bought a new stake in shares of Arista Networks during the first quarter worth about $521,767,000. Ameriprise Financial Inc. increased its position in shares of Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after acquiring an additional 503,597 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in Arista Networks during the 1st quarter valued at about $102,480,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities boosted their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. KeyCorp increased their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company increased their price target on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Up 2.0 %

Arista Networks stock opened at $399.97 on Wednesday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73. The firm has a 50 day moving average price of $362.69 and a 200-day moving average price of $329.52. The company has a market capitalization of $125.34 billion, a P/E ratio of 54.65, a P/E/G ratio of 3.21 and a beta of 1.07.

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

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 836 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $386.68, for a total transaction of $323,264.48. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,836,889.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock valued at $21,326,894 over the last three months. Company insiders own 3.54% of the company’s stock.

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.