9,596 Shares in Arista Networks, Inc. $ANET Purchased by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 9,596 shares of the technology company’s stock, valued at approximately $1,398,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Norges Bank bought a new position in shares of Arista Networks in the second quarter valued at approximately $1,228,177,000. AQR Capital Management LLC grew its holdings in Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock worth $584,119,000 after buying an additional 4,678,372 shares in the last quarter. Nordea Investment Management AB raised its position in Arista Networks by 193.3% in the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock valued at $721,342,000 after buying an additional 4,656,021 shares during the last quarter. Holocene Advisors LP purchased a new stake in Arista Networks in the 2nd quarter valued at $247,451,000. Finally, Amundi lifted its stake in Arista Networks by 35.3% during the 1st quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after acquiring an additional 2,240,045 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the sale, the director directly owned 25,784 shares in the company, valued at approximately $3,302,672.56. This trade represents a 23.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 208,464 shares of company stock valued at $27,418,668. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 1.3%

ANET opened at $132.42 on Wednesday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company’s 50-day moving average price is $134.49 and its two-hundred day moving average price is $129.99. The stock has a market cap of $166.75 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 2.57 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business posted $2.40 EPS. Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ANET. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Citigroup boosted their price target on shares of Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Evercore ISI upped their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Barclays reissued an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.56.

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.