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

Los Angeles Capital Management LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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’s holdings in Arista Networks were worth $67,020,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Arista Networks during the 3rd quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Arista Networks in the 3rd quarter worth about $29,000. BluePath Capital Management LLC purchased a new position in shares of Arista Networks during the 3rd quarter worth about $33,000. NBC Securities Inc. purchased a new position in shares of Arista Networks during the third quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC increased its stake in Arista Networks by 3,625.0% in the fourth 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 period. 82.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total value of $265,739.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 1,044 shares of the company’s 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 $265,739.76. The disclosure for this sale can be found here. Insiders sold a total of 335,974 shares of company stock valued at $96,252,685 over the last 90 days. 18.99% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE ANET traded up $12.52 during midday 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 stock has a market capitalization of $86.05 billion, a P/E ratio of 41.76, a PEG ratio of 2.18 and a beta of 1.13. The company has a 50 day simple moving average of $278.94 and a 200 day simple moving average of $248.71.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ANET shares. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Rosenblatt Securities restated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. Piper Sandler boosted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Finally, Jefferies Financial Group raised Arista Networks from a “hold” rating to a “buy” rating and raised their price objective for the company from $240.00 to $320.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $285.53.

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.