Lee Johnson Capital Management LLC Takes $4.33 Million Position in Arista Networks, Inc. (NYSE:ANET)

Lee Johnson Capital Management LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,291 shares of the technology company’s stock, valued at approximately $4,334,000. Arista Networks comprises about 2.2% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. NBC Securities Inc. raised its holdings in shares of Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after buying an additional 38 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Arista Networks by 13.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 524 shares of the technology company’s stock worth $152,000 after buying an additional 64 shares during the period. Alaska Permanent Fund Corp acquired a new stake in Arista Networks during the 1st quarter worth $37,000. RFG Advisory LLC raised its stake in Arista Networks by 27.3% during the 1st quarter. RFG Advisory LLC now owns 6,918 shares of the technology company’s stock worth $2,006,000 after buying an additional 1,483 shares during the period. Finally, &PARTNERS raised its stake in shares of Arista Networks by 75.2% in the 1st quarter. &PARTNERS now owns 1,995 shares of the technology company’s stock valued at $579,000 after purchasing an additional 856 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $5.39 on Friday, reaching $402.00. 1,539,535 shares of the stock were exchanged, compared to its average volume of 2,238,767. The firm’s 50 day moving average is $367.25 and its 200-day moving average is $331.59. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73. The firm has a market cap of $125.97 billion, a PE ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’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 transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock worth $21,326,894 in the last three months. 3.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ANET has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group upped their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

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.