Golden State Equity Partners Grows Position in Arista Networks, Inc. (NYSE:ANET)

Golden State Equity Partners boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 440.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,293 shares of the technology company’s stock after purchasing an additional 1,869 shares during the period. Golden State Equity Partners’ holdings in Arista Networks were worth $253,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ANET. Cranbrook Wealth Management LLC raised 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 acquiring an additional 198 shares during the period. Trust Co. of Vermont raised its position in Arista Networks by 300.0% in the fourth 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 period. New Millennium Group LLC lifted its stake in shares of Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Arista Networks by 1,012.0% in the fourth quarter. Westside Investment Management Inc. now owns 278 shares of the technology company’s stock worth $31,000 after buying an additional 253 shares during the period. Finally, Costello Asset Management INC grew its stake in shares of Arista Networks by 300.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $33,000 after buying an additional 225 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Up 2.8 %

ANET stock opened at $115.43 on Thursday. The stock’s 50 day simple moving average is $112.28 and its 200 day simple moving average is $99.36. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.57. The firm has a market cap of $145.41 billion, a P/E ratio of 55.49, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ANET shares. Evercore ISI upped their price target on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Rosenblatt Securities upped their target price on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler reissued a “neutral” rating and issued a $105.25 price objective (up from $86.25) on shares of Arista Networks in a research report on Friday, November 8th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $105.83.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at $7,076,289.82. This trade represents a 50.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at $1,405,171.04. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock worth $28,538,497 over the last quarter. 3.54% of the stock is owned by company insiders.

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.