Western Financial Corp CA Cuts Stake in Arista Networks, Inc. (NYSE:ANET)

Western Financial Corp CA reduced its position in Arista Networks, Inc. (NYSE:ANET) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,925 shares of the technology company’s stock after selling 260 shares during the period. Arista Networks comprises approximately 1.3% of Western Financial Corp CA’s holdings, making the stock its 12th largest position. Western Financial Corp CA’s holdings in Arista Networks were worth $2,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC boosted its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks during the 2nd quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks during the 2nd quarter valued at $35,000. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the completion of the transaction, the director now directly owns 50,946 shares in the company, valued at approximately $17,437,796.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the sale, the director now directly owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET traded up $4.76 during trading on Monday, hitting $406.76. The stock had a trading volume of 672,851 shares, compared to its average volume of 2,231,055. The firm 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. The company’s 50-day moving average price is $367.25 and its 200 day moving average price is $331.82. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share. As a group, equities analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research reports. Citigroup lifted their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. KeyCorp raised their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Rosenblatt Securities boosted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.