Coldstream Capital Management Inc. Purchases 492 Shares of Arista Networks, Inc. (NYSE:ANET)

Coldstream Capital Management Inc. increased its position in Arista Networks, Inc. (NYSE:ANET) by 14.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,856 shares of the technology company’s stock after acquiring an additional 492 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Arista Networks were worth $1,351,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the period. Capital World Investors increased its position in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after buying an additional 55,312 shares during the period. WCM Investment Management LLC raised its stake in Arista Networks by 0.8% during the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after buying an additional 25,196 shares during the last quarter. GQG Partners LLC acquired a new position in Arista Networks in the first quarter valued at $881,848,000. Finally, Norges Bank bought a new stake in Arista Networks during the fourth quarter valued at $586,051,000. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANET. Barclays boosted their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI increased their price target on Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. KeyCorp boosted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Bank of America lifted their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Price Performance

ANET opened at $342.65 on Thursday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The company has a market capitalization of $107.37 billion, a price-to-earnings ratio of 47.72, a P/E/G ratio of 2.48 and a beta of 1.07. The firm’s fifty day moving average price is $341.40 and its two-hundred day moving average price is $312.45.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping 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 business 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 posted $1.41 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares in the company, valued at approximately $18,686,231.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $352.93, for a total transaction of $705,860.00. Following the completion of the sale, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,989 shares of company stock worth $38,219,586. 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.