Baltimore-washington Financial Advisors Lowers stake in Arista Networks Inc (ANET)

Arista Networks Inc (ANET) : Baltimore-washington Financial Advisors reduced its stake in Arista Networks Inc by 3.33% during the most recent quarter end. The investment management company now holds a total of 40,555 shares of Arista Networks Inc which is valued at $3,366,471 after selling 1,395 shares in Arista Networks Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Arista Networks Inc makes up approximately 0.97% of Baltimore-washington Financial Advisors’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in ANET by selling 1,753 shares or 37.63% in the most recent quarter. The Hedge Fund company now holds 2,905 shares of ANET which is valued at $241,144.Bristol John W Co Inc Ny reduced its stake in ANET by selling 1,972 shares or 3.2% in the most recent quarter. The Hedge Fund company now holds 59,735 shares of ANET which is valued at $5,168,870. Arista Networks Inc makes up approx 0.14% of Bristol John W Co Inc Ny’s portfolio.Advisory Services Network boosted its stake in ANET in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 219 shares of Arista Networks Inc which is valued at $18,646. Independent Portfolio Consultants added ANET to its portfolio by purchasing 155 company shares during the most recent quarter which is valued at $13,170. Harbour Capital Advisors added ANET to its portfolio by purchasing 9,475 company shares during the most recent quarter which is valued at $805,091. Arista Networks Inc makes up approx 0.43% of Harbour Capital Advisors’s portfolio.

Arista Networks Inc closed down -3.52 points or -4.07% at $83.01 with 6,39,986 shares getting traded on Tuesday. Post opening the session at $86.5, the shares hit an intraday low of $82.41 and an intraday high of $86.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Shares were Downgraded by MKM Partners on Sep 19, 2016 to ” Neutral” and Lowered the Price Target to $ 79 from a previous price target of $81 .Company shares were Reiterated by Deutsche Bank on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $70 .

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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