Sendero Wealth Management LLC Trims Stock Holdings in Arista Networks, Inc. $ANET

Sendero Wealth Management LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 69,886 shares of the technology company’s stock after selling 9,070 shares during the period. Arista Networks comprises 1.0% of Sendero Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Sendero Wealth Management LLC’s holdings in Arista Networks were worth $9,157,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after purchasing an additional 5,955 shares during the period. Revolve Wealth Partners LLC purchased a new position in Arista Networks in the 4th quarter worth about $202,000. Bison Wealth LLC bought a new stake in Arista Networks during the 4th quarter valued at about $251,000. Sivia Capital Partners LLC lifted its holdings in Arista Networks by 48.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock valued at $1,097,000 after buying an additional 3,496 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new stake in Arista Networks in the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of research reports. UBS Group set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, February 24th. Barclays reiterated an “overweight” rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Finally, Rosenblatt Securities upped their target price on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $176.47.

Arista Networks Stock Performance

NYSE:ANET opened at $122.59 on Friday. The firm has a 50-day simple moving average of $135.67 and a 200-day simple moving average of $137.03. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The firm has a market cap of $154.03 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.39 and a beta of 1.46.

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 analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the completion of the transaction, the director directly owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $128.67, for a total value of $1,029,360.00. Following the sale, the director owned 1,784 shares of the company’s stock, valued at $229,547.28. This trade represents a 81.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 199,632 shares of company stock worth $26,936,324 in the last three months. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Company Profile

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.