Arista Networks, Inc. (NYSE:ANET) Position Raised by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 164.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,281 shares of the technology company’s stock after purchasing an additional 5,769 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Arista Networks were worth $2,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC grew its position in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after buying an additional 145 shares during the last quarter. Larson Financial Group LLC acquired a new position in Arista Networks in the third quarter worth approximately $28,000. Sandy Spring Bank grew its position in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in Arista Networks in the third quarter worth approximately $29,000. Finally, Sheets Smith Wealth Management acquired a new position in Arista Networks in the first quarter worth approximately $304,000. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the transaction, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The disclosure for this sale can be found here. Insiders sold a total of 361,036 shares of company stock valued at $102,813,921 in the last quarter. Insiders own 18.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ANET. Piper Sandler lifted their price objective on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, January 8th. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley lifted their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Trading Down 0.1 %

ANET stock opened at $262.81 on Wednesday. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a fifty day simple moving average of $281.54 and a 200 day simple moving average of $243.95. The firm has a market cap of $82.16 billion, a PE ratio of 40.00, a PEG ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 quarter in the previous year, the business earned $1.25 EPS. Arista Networks’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Arista Networks, Inc. will post 6.67 EPS for the current fiscal year.

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.