LCM Capital Management Inc Purchases 76 Shares of Arista Networks, Inc. (NYSE:ANET)

LCM Capital Management Inc raised its position in Arista Networks, Inc. (NYSE:ANET) by 13.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 653 shares of the technology company’s stock after buying an additional 76 shares during the quarter. LCM Capital Management Inc’s holdings in Arista Networks were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Beacon Capital Management LLC raised its stake in shares of Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the 2nd quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ANET. Barclays boosted their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Evercore ISI upped their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares of the company’s stock, valued at approximately $869,084.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,522 shares of company stock valued at $20,099,338 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 2.4 %

NYSE ANET opened at $386.44 on Friday. Arista Networks, Inc. has a 1-year low of $187.68 and a 1-year high of $422.73. The stock has a 50-day moving average of $375.35 and a 200-day moving average of $337.82. The firm has a market cap of $121.40 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Arista Networks Company Profile

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.