Desjardins Global Asset Management Inc. Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Desjardins Global Asset Management Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 164.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,281 shares of the technology company’s stock after acquiring an additional 5,769 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Arista Networks were worth $2,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Cibc World Market Inc. boosted its position in shares of Arista Networks by 135.9% in the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock valued at $4,729,000 after acquiring an additional 19,602 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Arista Networks by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after acquiring an additional 19,738 shares during the period. Prudential PLC bought a new position in shares of Arista Networks in the first quarter valued at approximately $676,000. Sequoia Financial Advisors LLC bought a new position in shares of Arista Networks in the first quarter valued at approximately $224,000. Finally, Vanguard Group Inc. boosted its position in shares of Arista Networks by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 0.1 %

Shares of ANET stock opened at $262.81 on Wednesday. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The stock has a market cap of $82.16 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. The company’s fifty day moving average price is $281.54 and its 200-day moving average price is $243.95.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 6.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ANET shares. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, January 8th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Morgan Stanley lifted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Piper Sandler lifted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the transaction, the director now directly owns 2,678 shares in the company, valued at approximately $700,055.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,036 shares of company stock worth $102,813,921. Company insiders own 18.99% of the company’s stock.

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.