Darden Wealth Group Inc Buys 17,078 Shares of Arista Networks, Inc. (NYSE:ANET)

Darden Wealth Group Inc lifted its position in Arista Networks, Inc. (NYSE:ANET) by 378.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,589 shares of the technology company’s stock after acquiring an additional 17,078 shares during the quarter. Arista Networks accounts for 1.6% of Darden Wealth Group Inc’s portfolio, making the stock its 12th largest position. Darden Wealth Group Inc’s holdings in Arista Networks were worth $2,386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Morse Asset Management Inc bought a new position in Arista Networks in the 3rd quarter worth about $123,000. Stifel Financial Corp grew its holdings in Arista Networks by 4.8% in the third quarter. Stifel Financial Corp now owns 162,252 shares of the technology company’s stock worth $62,276,000 after purchasing an additional 7,505 shares during the last quarter. Wellington Management Group LLP increased its position in Arista Networks by 22.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,660,695 shares of the technology company’s stock valued at $1,021,228,000 after buying an additional 492,615 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Arista Networks during the third quarter valued at about $6,100,000. Finally, iA Global Asset Management Inc. purchased a new position in shares of Arista Networks in the third quarter worth $2,961,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the sale, the director now directly owns 139,784 shares in the company, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 1,488 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $107.13, for a total transaction of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock worth $48,840,431 in the last ninety days. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANET. Evercore ISI raised their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler restated a “neutral” rating and set a $108.00 price objective (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group restated a “buy” rating on shares of Arista Networks in a research report on Monday, March 3rd. Finally, StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Down 9.8 %

NYSE:ANET opened at $64.28 on Friday. The firm has a market cap of $81.07 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50 day moving average of $94.01 and a two-hundred day moving average of $101.29. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.