Lebenthal Global Advisors LLC Has $1.59 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

by · The Markets Daily

Lebenthal Global Advisors LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,141 shares of the technology company’s stock after purchasing an additional 802 shares during the period. Lebenthal Global Advisors LLC’s holdings in Arista Networks were worth $1,589,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ANET. First Affirmative Financial Network grew its position 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 valued at $262,000 after purchasing an additional 28 shares during the last quarter. FCG Investment Co lifted its holdings in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the last quarter. Everpar Advisors LLC boosted its position in shares of Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares during the period. HM Payson & Co. grew its stake in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after acquiring an additional 31 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET traded up $5.50 during midday trading on Friday, hitting $391.94. The company had a trading volume of 126,794 shares, compared to its average volume of 2,195,009. Arista Networks, Inc. has a twelve month low of $203.19 and a twelve month high of $422.73. The firm’s 50-day simple moving average is $375.35 and its 200-day simple moving average is $337.82. The company has a market capitalization of $123.13 billion, a PE ratio of 50.12, a P/E/G ratio of 3.49 and a beta of 1.07.

Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 7.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ANET. UBS Group upped their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Morgan Stanley lifted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Jefferies Financial Group upped their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

View Our Latest Research Report on Arista Networks

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now directly owns 46,946 shares in the company, valued at $17,957,783.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,522 shares of company stock valued at $20,099,338 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).