SeaTown Holdings Pte. Ltd. Has $7.02 Million Stock Position in Arista Networks, Inc. $ANET

SeaTown Holdings Pte. Ltd. cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 63.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,150 shares of the technology company’s stock after selling 82,850 shares during the period. Arista Networks makes up approximately 4.0% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 14th largest position. SeaTown Holdings Pte. Ltd.’s holdings in Arista Networks were worth $7,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. grew its position in Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares in the last quarter. Bare Financial Services Inc increased its stake in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. SJS Investment Consulting Inc. raised its holdings in Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after acquiring an additional 235 shares in the last quarter. Finally, Guerra Advisors Inc bought a new stake in shares of Arista Networks during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 3.2%

Shares of ANET stock opened at $132.90 on Thursday. The firm has a market capitalization of $167.00 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.28 and a beta of 1.42. The business’s 50-day moving average price is $134.19 and its 200-day moving average price is $137.44. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ANET. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Needham & Company LLC upped their price target on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research note on Friday, February 13th. Rosenblatt Securities upped their target price on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, Evercore reiterated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.88.

Insider Activity

In related news, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,848,301.44. This trade represents a 71.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director directly owned 9,529 shares in the company, valued at $1,220,283.74. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 194,422 shares of company stock valued at $25,620,741. Insiders own 3.39% of the company’s stock.

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.