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

Western Financial Corp CA acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,175 shares of the technology company’s stock, valued at approximately $809,000.

Other large investors also recently bought and sold shares of the company. Board of the Pension Protection Fund purchased a new position in shares of Arista Networks in the 4th quarter worth about $26,000. AdvisorNet Financial Inc lifted its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Knuff & Co LLC purchased a new stake in Arista Networks during the 3rd quarter worth $29,000. Richardson Financial Services Inc. grew its stake in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares in the last quarter. Finally, Quarry LP purchased a new position in Arista Networks in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total value of $3,487,640.00. Following the transaction, the insider directly owned 502,400 shares of the company’s stock, valued at $67,391,936. This represents a 4.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the completion of the sale, the director directly owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 199,632 shares of company stock valued at $26,873,604. 3.39% of the stock is owned by company insiders.

Arista Networks Price Performance

ANET stock opened at $126.71 on Monday. The company’s 50 day simple moving average is $134.64 and its 200-day simple moving average is $136.02. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The firm 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 issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share 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 the consensus estimate of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.Arista Networks’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Friday, March 27th. Piper Sandler restated an “overweight” rating and issued a $175.00 price target (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company upped their price objective on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Truist Financial began coverage on shares of Arista Networks in a research report on Tuesday, March 31st. They issued a “buy” rating and a $161.00 target price for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $175.61.

Arista Networks 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.