Goldstream Capital Management Ltd Invests $1.70 Million in Arista Networks, Inc. (NYSE:ANET)

Goldstream Capital Management Ltd acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,235 shares of the technology company’s stock, valued at approximately $1,704,000. Arista Networks makes up approximately 1.1% of Goldstream Capital Management Ltd’s portfolio, making the stock its 17th largest position.

Several other hedge funds have also recently made changes to their positions in the business. Sandy Spring Bank increased its position in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its position in Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after buying an additional 40 shares in the last quarter. West Family Investments Inc. increased its position in Arista Networks by 3.3% in the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after buying an additional 40 shares in the last quarter. Venturi Wealth Management LLC increased its position in Arista Networks by 2.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after buying an additional 41 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in Arista Networks by 3.1% during the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after purchasing an additional 41 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 2.6 %

NYSE:ANET traded up $6.65 during midday trading on Thursday, hitting $261.86. The company had a trading volume of 1,396,707 shares, compared to its average volume of 2,450,491. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The stock’s fifty day moving average price is $279.08 and its 200-day moving average price is $248.62. The company has a market capitalization of $82.12 billion, a PE ratio of 39.39, a P/E/G ratio of 2.19 and a beta of 1.13.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ANET shares. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. KeyCorp boosted their target price on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John F. Mccool sold 420 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. Insiders sold a total of 332,514 shares of company stock worth $95,369,397 over the last three months. Company insiders own 18.99% of the company’s stock.

Arista Networks Company 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.