Los Angeles Capital Management LLC Raises Position in Arista Networks, Inc. (NYSE:ANET)

Los Angeles Capital Management LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 317.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,630,828 shares of the technology company’s stock after buying an additional 1,239,897 shares during the period. Arista Networks makes up approximately 0.7% of Los Angeles Capital Management LLC’s portfolio, making the stock its 23rd largest position. Los Angeles Capital Management LLC owned 0.13% of Arista Networks worth $180,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. Amalgamated Bank lifted its position in shares of Arista Networks by 284.6% during the 4th quarter. Amalgamated Bank now owns 226,464 shares of the technology company’s stock worth $25,031,000 after purchasing an additional 167,575 shares during the last quarter. Avalon Capital Management raised its holdings in shares of Arista Networks by 376.4% in the fourth quarter. Avalon Capital Management now owns 9,972 shares of the technology company’s stock valued at $1,102,000 after buying an additional 7,879 shares during the last quarter. Weinberger Asset Management Inc raised its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Weinberger Asset Management Inc now owns 4,048 shares of the technology company’s stock valued at $447,000 after buying an additional 3,036 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Arista Networks in the fourth quarter valued at about $636,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Arista Networks by 294.1% in the fourth quarter. Bank of New York Mellon Corp now owns 6,136,864 shares of the technology company’s stock valued at $678,308,000 after buying an additional 4,579,622 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the completion of the transaction, the director now directly owns 42,946 shares of the company’s stock, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,056 shares of company stock valued at $30,225,623 in the last quarter. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ANET shares. Wells Fargo & Company increased their price target on shares of Arista Networks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Barclays increased their target price on shares of Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup increased their price target on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI increased their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.79.

Arista Networks Trading Down 5.8 %

Shares of ANET stock opened at $92.61 on Tuesday. The company’s fifty day simple moving average is $113.18 and its 200-day simple moving average is $102.07. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market cap of $116.79 billion, a PE ratio of 41.72, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks 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.