Ao Asset Management buys $11,122,800 stake in Arista Networks Inc (ANET)

Arista Networks Inc (ANET) : Ao Asset Management scooped up 2,000 additional shares in Arista Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 156,000 shares of Arista Networks Inc which is valued at $11,122,800.Arista Networks Inc makes up approximately 2.74% of Ao Asset Management’s portfolio.

Other Hedge Funds, Including , Harel Insurance Investments Financial Services Ltd. added ANET to its portfolio by purchasing 110 company shares during the most recent quarter which is valued at $7,843.California State Teachers Retirement System boosted its stake in ANET in the latest quarter, The investment management firm added 10,831 additional shares and now holds a total of 82,475 shares of Arista Networks Inc which is valued at $5,880,468. Arista Networks Inc makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Candriam Luxembourg S.c.a. sold out all of its stake in ANET during the most recent quarter. The investment firm sold 8,200 shares of ANET which is valued $579,740. Simplex Trading added ANET to its portfolio by purchasing 607 company shares during the most recent quarter which is valued at $43,273. Arista Networks Inc makes up approx 0.01% of Simplex Trading’s portfolio.

Arista Networks Inc opened for trading at $72.18 and hit $72.88 on the upside on Monday, eventually ending the session at $72.07, with a gain of 0.45% or 0.32 points. The heightened volatility saw the trading volume jump to 10,47,196 shares. Company has a market cap of $4,946 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.

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