Gallacher Capital Management LLC Has $457,000 Position in Arista Networks, Inc. (NYSE:ANET)

Gallacher Capital Management LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 38.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,304 shares of the technology company’s stock after buying an additional 360 shares during the quarter. Gallacher Capital Management LLC’s holdings in Arista Networks were worth $457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FCG Investment Co increased its stake in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares during the last quarter. Old Port Advisors increased its position in Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Arista Networks by 33.3% during the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Arista Networks by 4.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC grew its stake in shares of Arista Networks by 2.1% in the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 4.3 %

ANET opened at $314.31 on Friday. The business has a 50 day moving average of $343.09 and a 200-day moving average of $311.03. The stock has a market capitalization of $98.49 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 2.78 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50.

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, beating 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 firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $1.41 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ANET. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Jefferies Financial Group upped their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $358.63.

Insider Buying and Selling

In other Arista Networks news, insider John F. Mccool sold 584 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $351.09, for a total value of $205,036.56. Following the completion of the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $25,278.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $325.88, for a total value of $6,517,600.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,057,154.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Mccool sold 584 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $351.09, for a total transaction of $205,036.56. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $25,278.48. The disclosure for this sale can be found here. Insiders have sold a total of 126,300 shares of company stock valued at $44,194,544 over the last three months. 3.54% of the stock is owned by corporate insiders.

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.