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

LCM Capital Management Inc increased its position in Arista Networks, Inc. (NYSE:ANET) by 13.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 653 shares of the technology company’s stock after acquiring an additional 76 shares during the quarter. LCM Capital Management Inc’s holdings in Arista Networks were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. GQG Partners LLC purchased a new position in Arista Networks during the first quarter valued at $881,848,000. Swedbank AB purchased a new position in Arista Networks during the first quarter valued at $521,767,000. Ameriprise Financial Inc. lifted its position in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its position in Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Arista Networks by 4,160.9% during the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $386.44 on Friday. The stock has a market cap of $121.40 billion, a price-to-earnings ratio of 50.12, a P/E/G ratio of 3.21 and a beta of 1.07. The stock’s 50 day moving average price is $375.35 and its 200-day moving average price is $337.82. Arista Networks, Inc. has a one year low of $187.68 and a one year high of $422.73.

Arista Networks (NYSE:ANET) last released its 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 firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ANET shares. Piper Sandler boosted their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Barclays boosted their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 373 shares of the business’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 approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelly Bodnar Battles sold 373 shares of the business’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 approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,522 shares of company stock valued at $20,099,338. 3.54% of the stock is currently owned by insiders.

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.