Seven Mile Advisory Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Seven Mile Advisory increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 284.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ANET. Public Sector Pension Investment Board increased its stake in Arista Networks by 23.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,092 shares of the technology company’s stock worth $3,874,000 after purchasing an additional 1,900 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Arista Networks by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 7,972 shares of the technology company’s stock worth $3,060,000 after buying an additional 116 shares during the period. PDT Partners LLC raised its holdings in Arista Networks by 14.9% during the 3rd quarter. PDT Partners LLC now owns 5,402 shares of the technology company’s stock valued at $2,073,000 after buying an additional 702 shares during the last quarter. Cobblestone Capital Advisors LLC NY purchased a new stake in Arista Networks during the 3rd quarter valued at $214,000. Finally, True Wealth Design LLC grew its holdings in Arista Networks by 2,133.3% in the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $49,112,111 over the last 90 days. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Down 1.3 %

ANET stock opened at $77.91 on Monday. The business has a 50 day moving average of $99.16 and a 200 day moving average of $101.91. The firm has a market cap of $98.25 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58.

Arista Networks (NYSE:ANET) last posted 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. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $108.00 target price (up from $106.00) on shares of Arista Networks in a report on Wednesday, February 19th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Arista Networks in a research note on Wednesday, February 19th. Erste Group Bank lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.