LVW Advisors LLC Acquires 41 Shares of Arista Networks, Inc. (NYSE:ANET)

LVW Advisors LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730 shares of the technology company’s stock after purchasing an additional 41 shares during the quarter. LVW Advisors LLC’s holdings in Arista Networks were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Beacon Capital Management LLC lifted its stake in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the second quarter valued at $27,000. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks during the 1st quarter valued at $26,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in Arista Networks in the 2nd quarter worth about $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock worth $21,326,894 in the last quarter. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $416.93 on Friday. The company’s fifty day moving average price is $359.35 and its 200-day moving average price is $327.66. The firm has a market capitalization of $130.65 billion, a price-to-earnings ratio of 58.07, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $417.71.

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. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research reports. KeyCorp increased their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Bank of America raised their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Rosenblatt Securities boosted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks 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.