FCG Investment Co Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

FCG Investment Co raised its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 227.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,164 shares of the technology company's stock after purchasing an additional 2,893 shares during the quarter. FCG Investment Co's holdings in Arista Networks were worth $1,598,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Beacon Capital Management LLC raised its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company's stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the second quarter valued at approximately $27,000. Byrne Asset Management LLC bought a new stake in Arista Networks in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total transaction of $684,560.00. Following the sale, the director now directly owns 50,946 shares of the company's stock, valued at $17,437,796.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction of $220,114.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the sale, the director now owns 50,946 shares in the company, valued at approximately $17,437,796.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,570 shares of company stock worth $21,474,782. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of ANET stock traded down $1.82 during mid-day trading on Monday, hitting $392.27. The company had a trading volume of 1,031,457 shares, compared to its average volume of 2,214,673. The company has a market capitalization of $122.92 billion, a P/E ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52-week low of $174.59 and a 52-week high of $422.73. The stock's 50 day moving average price is $372.10 and its 200-day moving average price is $335.48.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates 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 was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, equities research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on ANET shares. Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, July 18th. Piper Sandler upped their price objective on Arista Networks from $302.00 to $345.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on Arista Networks from $340.00 to $390.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price objective on Arista Networks from $385.00 to $460.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.