Western Financial Corp CA Takes $809,000 Position in Arista Networks, Inc. $ANET

Western Financial Corp CA acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,175 shares of the technology company’s stock, valued at approximately $809,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. Massachusetts Financial Services Co. MA boosted its stake in Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after buying an additional 5,525,828 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arista Networks by 82.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock valued at $1,396,939,000 after buying an additional 4,332,659 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Arista Networks in the second quarter valued at about $247,451,000. AQR Capital Management LLC lifted its position in Arista Networks by 13.2% during the 2nd quarter. AQR Capital Management LLC now owns 8,742,112 shares of the technology company’s stock worth $892,919,000 after buying an additional 1,022,303 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock worth $14,571,121,000 after acquiring an additional 1,007,730 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 0.0%

Shares of NYSE ANET opened at $126.71 on Monday. The stock has a 50 day moving average of $134.64 and a 200-day moving average of $136.02. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The company has a market capitalization of $159.22 billion, a P/E ratio of 45.91, a P/E/G ratio of 2.24 and a beta of 1.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. Arista Networks’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. Analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total value of $3,487,640.00. Following the sale, the insider directly owned 502,400 shares in the company, valued at approximately $67,391,936. This trade represents a 4.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $125.95, for a total transaction of $1,007,600.00. Following the sale, the director directly owned 216,333 shares in the company, valued at approximately $27,247,141.35. The trade was a 3.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 199,632 shares of company stock valued at $26,873,604. Company insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ANET shares. Barclays reissued an “overweight” rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Needham & Company LLC increased their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 13th. TD Cowen began coverage on Arista Networks in a report on Thursday, March 12th. They set a “buy” rating and a $170.00 target price on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.61.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.