Arista Networks, Inc. (NYSE:ANET) Shares Sold by Western Financial Corp CA

Western Financial Corp CA lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,925 shares of the technology company’s stock after selling 260 shares during the quarter. Arista Networks accounts for about 1.3% of Western Financial Corp CA’s investment portfolio, making the stock its 12th largest holding. Western Financial Corp CA’s holdings in Arista Networks were worth $2,274,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ANET. GQG Partners LLC purchased a new position in Arista Networks in the 1st quarter valued at about $881,848,000. Swedbank AB acquired a new stake in Arista Networks in the first quarter valued at $521,767,000. Ameriprise Financial Inc. grew its holdings in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Arista Networks by 213.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 355,227 shares of the technology company’s stock valued at $101,685,000 after acquiring an additional 241,901 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock traded up $4.76 during midday trading on Monday, hitting $406.76. The company’s stock had a trading volume of 672,851 shares, compared to its average volume of 2,231,055. The stock has a market capitalization of $127.46 billion, a P/E ratio of 55.99, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73. The company’s fifty day moving average price is $367.25 and its 200 day moving average price is $331.82.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.41 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 over the last three months. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ANET shares. KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Rosenblatt Securities upped their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

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.