Arista Networks Inc (ANET) : Gilder Gagnon Howe Co scooped up 296,193 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 1, 2016. The investment management firm now holds a total of 337,428 shares of Arista Networks Inc which is valued at $24,058,616.Arista Networks Inc makes up approximately 0.44% of Gilder Gagnon Howe Co’s portfolio.
Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in ANET by selling 8,500 shares or 88.19% in the most recent quarter. The Hedge Fund company now holds 1,138 shares of ANET which is valued at $81,139. Proficio Capital Partners sold out all of its stake in ANET during the most recent quarter. The investment firm sold 8 shares of ANET which is valued $570. Mazama Capital Management Inc sold out all of its stake in ANET during the most recent quarter. The investment firm sold 144 shares of ANET which is valued $9,753.
Arista Networks Inc opened for trading at $71 and hit $72.31 on the upside on Thursday, eventually ending the session at $71.99, with a gain of 0.97% or 0.69 points. The heightened volatility saw the trading volume jump to 8,05,126 shares. Company has a market cap of $4,941 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. 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. Company shares were Reiterated by RBC Capital Mkts on May 6, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $62 .
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.