Gordian Capital Singapore Pte Ltd Purchases 2,449 Shares of Arista Networks, Inc. (NYSE:ANET)

Gordian Capital Singapore Pte Ltd increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 81,633.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,452 shares of the technology company’s stock after purchasing an additional 2,449 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Arista Networks were worth $271,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Caitlin John LLC raised its position in shares of Arista Networks by 174.7% during the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares in the last quarter. New Millennium Group LLC increased its stake in 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 acquiring an additional 195 shares during the last quarter. Quarry LP raised its position in Arista Networks by 381.5% during the fourth quarter. Quarry LP now owns 260 shares of the technology company’s stock valued at $29,000 after purchasing an additional 206 shares during the period. Finally, Dunhill Financial LLC lifted its stake in shares of Arista Networks by 415.7% in the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. The Goldman Sachs Group reduced their target price on shares of Arista Networks from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Arista Networks from $73.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. KGI Securities downgraded shares of Arista Networks to a “neutral” rating in a report on Wednesday, May 7th. Finally, Rosenblatt Securities raised their price objective on shares of Arista Networks from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.14.

Arista Networks Price Performance

Shares of ANET stock opened at $92.52 on Thursday. The stock’s 50-day moving average is $81.11 and its 200 day moving average is $97.15. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.58. The company has a market cap of $116.20 billion, a P/E ratio of 41.68, a PEG ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 27.6% compared to the same quarter last year. On average, analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks announced that its board has approved a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares of the company’s stock, valued at $13,157,209.52. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $96.57, for a total transaction of $1,683,504.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,755 shares of company stock valued at $37,045,233. 3.39% 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.