Los Angeles Capital Management LLC Acquires 42,607 Shares of Arista Networks, Inc. (NYSE:ANET)

Los Angeles Capital Management LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,574 shares of the technology company’s stock after acquiring an additional 42,607 shares during the period. Los Angeles Capital Management LLC owned approximately 0.09% of Arista Networks worth $67,020,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new position in Arista Networks in the third quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at about $29,000. BluePath Capital Management LLC acquired a new position in Arista Networks during the third quarter valued at approximately $33,000. NBC Securities Inc. bought a new position in Arista Networks in the third quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC increased its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Trading Up 4.8 %

ANET stock traded up $12.52 during trading on Friday, reaching $274.38. 2,883,165 shares of the stock were exchanged, compared to its average volume of 2,455,522. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The firm’s 50 day moving average is $278.94 and its 200 day moving average is $248.71. The firm has a market cap of $86.05 billion, a P/E ratio of 41.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.25 EPS. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ANET shares. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays boosted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $285.53.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 1,044 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John F. Mccool sold 416 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,974 shares of company stock worth $96,252,685. Insiders own 18.99% 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.