SeaTown Holdings Pte. Ltd. Sells 82,850 Shares of Arista Networks, Inc. $ANET

SeaTown Holdings Pte. Ltd. reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 63.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,150 shares of the technology company’s stock after selling 82,850 shares during the quarter. Arista Networks accounts for 4.0% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 14th largest position. SeaTown Holdings Pte. Ltd.’s holdings in Arista Networks were worth $7,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC raised its stake in shares of Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after purchasing an additional 70 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Crown Wealth Group LLC raised its position in Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after buying an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc lifted its stake in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after acquiring an additional 76 shares in the last quarter. Finally, Stablepoint Partners LLC boosted its position in Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after acquiring an additional 77 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ANET. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Barclays restated an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Insider Activity

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,848,301.44. This represents a 71.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 194,422 shares of company stock valued at $25,620,741 over the last ninety days. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Up 3.2%

NYSE:ANET opened at $132.90 on Thursday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market capitalization of $167.00 billion, a price-to-earnings ratio of 48.15, a P/E/G ratio of 2.28 and a beta of 1.42. The stock’s 50 day moving average price is $134.19 and its two-hundred day moving average price is $137.44.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the firm earned $0.66 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.