Los Angeles Capital Management LLC Has $150.85 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Los Angeles Capital Management LLC reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 430,415 shares of the technology company’s stock after selling 102,770 shares during the quarter. Los Angeles Capital Management LLC owned about 0.14% of Arista Networks worth $150,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ANET. Benjamin Edwards Inc. bought a new stake in Arista Networks during the 1st quarter worth approximately $26,000. Beacon Capital Management LLC lifted its stake in 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 acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new position in Arista Networks during the second quarter worth about $33,000. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total value of $6,517,600.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,057,154.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,057,154.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Scheinman sold 1,000 shares of Arista Networks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $328.17, for a total value of $328,170.00. Following the completion of the sale, the director now directly owns 37,732 shares in the company, valued at $12,382,510.44. The disclosure for this sale can be found here. Insiders have sold 126,300 shares of company stock valued at $44,194,544 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 4.3 %

ANET traded down $14.13 during midday trading on Friday, hitting $314.31. 2,188,318 shares of the company traded hands, compared to its average volume of 2,361,568. The company’s 50-day moving average is $343.09 and its 200 day moving average is $310.67. The firm has a market capitalization of $98.49 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50.

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 the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America increased their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Citigroup increased their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $358.63.

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.