Goldstream Capital Management Ltd Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Goldstream Capital Management Ltd increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 296.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,500 shares of the technology company’s stock after buying an additional 34,775 shares during the quarter. Arista Networks comprises approximately 1.4% of Goldstream Capital Management Ltd’s portfolio, making the stock its 11th largest position. Goldstream Capital Management Ltd’s holdings in Arista Networks were worth $5,140,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ANET. Morse Asset Management Inc purchased a new position in shares of Arista Networks during the 3rd quarter worth approximately $123,000. Virtu Financial LLC purchased a new position in shares of Arista Networks during the third quarter worth $1,752,000. World Investment Advisors LLC acquired a new stake in shares of Arista Networks in the third quarter valued at $401,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Arista Networks in the 3rd quarter valued at $2,222,000. Finally, Tidal Investments LLC lifted its stake in Arista Networks by 5.6% during the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock worth $14,348,000 after acquiring an additional 1,998 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 1.1 %

Shares of Arista Networks stock opened at $71.11 on Monday. The company has a fifty day simple moving average of $84.23 and a 200-day simple moving average of $99.30. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The stock has a market cap of $89.67 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Arista Networks from $140.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price on shares of Arista Networks in a report on Wednesday, February 19th. Piper Sandler dropped their price target on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.07.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the transaction, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the sale, the director now owns 139,784 shares of the company’s stock, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,031 shares of company stock valued at $39,364,943 over the last quarter. Company insiders own 3.54% of the company’s stock.

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.