Goldstream Capital Management Ltd Acquires 34,775 Shares of Arista Networks, Inc. (NYSE:ANET)

Goldstream Capital Management Ltd grew its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 296.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,500 shares of the technology company's stock after purchasing an additional 34,775 shares during the quarter. Arista Networks comprises about 1.4% of Goldstream Capital Management Ltd's investment 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.

Other large investors also recently made changes to their positions in the company. Caitlin John LLC increased its position in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company's stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock valued at $29,000 after buying an additional 198 shares during the period. Trust Co. of Vermont boosted its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, New Millennium Group LLC grew its holdings in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after acquiring an additional 195 shares during the period. Institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Evercore ISI reduced their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Rosenblatt Securities lowered their price target on Arista Networks from $85.00 to $55.00 and set a "sell" rating for the company in a research note on Tuesday. Piper Sandler decreased their price target on shares of Arista Networks from $108.00 to $76.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group raised shares of Arista Networks from a "neutral" rating to a "buy" rating and upped their target price for the stock from $112.00 to $115.00 in a research note on Wednesday, March 5th. Finally, Citigroup dropped their price target on Arista Networks from $121.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.29.

Arista Networks Price Performance

ANET stock traded up $4.49 during trading hours on Thursday, reaching $75.25. The stock had a trading volume of 11,753,218 shares, compared to its average volume of 9,114,147. The stock has a market capitalization of $94.49 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50-day simple moving average of $81.85 and a 200 day simple moving average of $98.68. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,500,155.36. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 138,351 shares of Arista Networks stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the sale, the chief executive officer now directly owns 92,641 shares of the company's stock, valued at $8,697,137.08. The trade was a 59.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,863 shares of company stock valued at $39,344,612. 3.54% of the stock is owned by 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.