Arista Networks Inc (ANET) : Affinity Wealth Management added new position in Arista Networks Inc during the most recent quarter end. The investment management firm now holds 4,368 shares of Arista Networks Inc which is valued at $331,007 , the company said in a statement filed on Aug 10, 2016 with the SEC.Arista Networks Inc makes up approximately 0.22% of Affinity Wealth Management’s portfolio.
Other Hedge Funds, Including , Blackrock Advisors boosted its stake in ANET in the latest quarter, The investment management firm added 4,658 additional shares and now holds a total of 21,051 shares of Arista Networks Inc which is valued at $1,595,245.Public Employees Retirement Association Of Colorado boosted its stake in ANET in the latest quarter, The investment management firm added 170 additional shares and now holds a total of 1,252 shares of Arista Networks Inc which is valued at $89,230. American Century Companies Inc added ANET to its portfolio by purchasing 137,372 company shares during the most recent quarter which is valued at $9,712,200. Arista Networks Inc makes up approx 0.01% of American Century Companies Inc’s portfolio.
Arista Networks Inc opened for trading at $79.13 and hit $79.7 on the upside on Friday, eventually ending the session at $79.12, with a gain of 0.11% or 0.09 points. The heightened volatility saw the trading volume jump to 7,77,465 shares. Company has a market cap of $5,479 M.
On the company’s financial health, Arista Networks Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $268.70 million for the quarter, compared to analysts expectations of $262.90 million. The company’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Arista Networks Inc. Company shares were Reiterated by UBS on Aug 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 72 from a previous price target of $68 .Arista Networks Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 27, 2016. Arista Networks Inc was Initiated by JP Morgan to “Neutral” on May 13, 2016.
Arista Networks Inc. is a supplier of cloud networking solutions that use software to address the needs Internet companies cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS) a set of network applications and its 10/40/100 Gigabit Ethernet switches. The Company offers range of product lines of data center 10/40/100 Gigabit Ethernet switches in the industry which consist of its 7050 Series and 7150 Series top-of-rack switches 72XX/7300 X Series SPLINE switches and its 7280 and 7500 E Series spine switches. EOS supports cloud and virtualization solutions including VMware NSX Microsoft System Center OpenStack and other cloud management frameworks. The Company also offers EOS+ a software platform for network programmability and automation.