Lee Johnson Capital Management LLC Takes $1.40 Million Position in Arista Networks, Inc. $ANET

Lee Johnson Capital Management LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,596 shares of the technology company’s stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SteelPeak Wealth LLC lifted its holdings in shares of Arista Networks by 23.8% during the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 7,779 shares during the period. Penobscot Investment Management Company Inc. raised its position in Arista Networks by 7.8% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after purchasing an additional 2,815 shares during the last quarter. Vanguard Group Inc. raised its position in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after purchasing an additional 1,136,167 shares during the last quarter. Holocene Advisors LP acquired a new position in Arista Networks during the 2nd quarter worth about $247,451,000. Finally, Soltis Investment Advisors LLC grew its position in shares of Arista Networks by 99.3% in the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after buying an additional 20,141 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ANET shares. Needham & Company LLC raised their price objective on Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Barclays reiterated an “overweight” rating and set a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.56.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $157.12, for a total value of $1,256,960.00. Following the completion of the sale, the director owned 33,784 shares of the company’s stock, valued at approximately $5,308,142.08. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the transaction, the director directly owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 208,464 shares of company stock worth $27,418,668 in the last three months. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 1.3%

NYSE:ANET opened at $132.42 on Wednesday. The stock has a market capitalization of $166.75 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 2.57 and a beta of 1.41. The firm has a fifty day simple moving average of $134.49 and a two-hundred day simple moving average of $129.99. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 earnings per share. Equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.