Seascape Capital Management Takes $2.77 Million Position in Arista Networks, Inc. (NYSE:ANET)

Seascape Capital Management acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,041 shares of the technology company’s stock, valued at approximately $2,768,000.

A number of other hedge funds also recently bought and sold shares of the stock. Montag A & Associates Inc. boosted its holdings in shares of Arista Networks by 300.1% in the 4th quarter. Montag A & Associates Inc. now owns 3,301 shares of the technology company’s stock valued at $365,000 after buying an additional 2,476 shares in the last quarter. Congress Asset Management Co. lifted its position in Arista Networks by 300.0% during the fourth quarter. Congress Asset Management Co. now owns 1,838,991 shares of the technology company’s stock valued at $203,264,000 after acquiring an additional 1,379,287 shares during the last quarter. Lodestone Wealth Management LLC boosted its stake in Arista Networks by 313.5% in the fourth quarter. Lodestone Wealth Management LLC now owns 2,936 shares of the technology company’s stock valued at $325,000 after acquiring an additional 2,226 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Arista Networks in the fourth quarter worth $258,000. Finally, Covenant Asset Management LLC increased its position in shares of Arista Networks by 334.9% during the fourth quarter. Covenant Asset Management LLC now owns 100,613 shares of the technology company’s stock worth $11,121,000 after purchasing an additional 77,476 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 2.8 %

Shares of NYSE ANET opened at $106.64 on Friday. The firm has a 50-day simple moving average of $113.94 and a 200-day simple moving average of $100.90. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a market capitalization of $134.35 billion, a price-to-earnings ratio of 51.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays dropped their target price on Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.59.

Insider Activity

In other news, insider John F. Mccool sold 6,340 shares of Arista Networks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $98.58, for a total transaction of $625,013.05. Following the sale, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. The trade was a 95.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 335,832 shares of company stock worth $37,787,297 over the last ninety days. Corporate 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.