LCM Capital Management Inc Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

LCM Capital Management Inc boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 460.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,658 shares of the technology company’s stock after buying an additional 3,005 shares during the period. LCM Capital Management Inc’s holdings in Arista Networks were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. Zions Bancorporation N.A. grew its stake in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC grew its position in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after purchasing an additional 27 shares in the last quarter. First Affirmative Financial Network increased its holdings in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. Altman Advisors Inc. lifted its position in shares of Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after buying an additional 29 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

ANET has been the topic of a number of research reports. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. UBS Group boosted their price target on shares of Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Evercore ISI increased their price objective 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. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.83.

Arista Networks Stock Up 2.8 %

Shares of Arista Networks stock opened at $115.43 on Thursday. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57. The company has a market capitalization of $145.41 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s fifty day moving average is $112.28 and its two-hundred day moving average is $99.36.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John F. Mccool sold 6,340 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $98.58, for a total transaction of $625,013.05. Following the transaction, the insider now owns 288 shares of the company’s stock, valued at approximately $28,391.76. This represents a 95.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $825,300.00. Following the completion of the sale, the director now owns 42,946 shares of the company’s stock, valued at $17,721,666.90. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock worth $28,538,497 in the last three months. Corporate insiders own 3.54% of the company’s stock.

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.