Herald Investment Management Ltd buys $528,235 stake in Arista Networks Inc (ANET)

Arista Networks Inc (ANET) : Herald Investment Management Ltd scooped up 4,300 additional shares in Arista Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 25, 2016. The investment management firm now holds a total of 7,250 shares of Arista Networks Inc which is valued at $528,235.Arista Networks Inc makes up approximately 0.22% of Herald Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Boardman Bay Capital Management reduced its stake in ANET by selling 24,799 shares or 48.62% in the most recent quarter. The Hedge Fund company now holds 26,212 shares of ANET which is valued at $1.8 Million. Arista Networks Inc makes up approx 3.00% of Boardman Bay Capital Management’s portfolio.Capital Research Global Investors boosted its stake in ANET in the latest quarter, The investment management firm added 136,600 additional shares and now holds a total of 5,891,922 shares of Arista Networks Inc which is valued at $413.1 Million. Arista Networks Inc makes up approx 0.15% of Capital Research Global Investors’s portfolio.Ubs Oconnor boosted its stake in ANET in the latest quarter, The investment management firm added 23,065 additional shares and now holds a total of 43,065 shares of Arista Networks Inc which is valued at $2.9 Million. Arista Networks Inc makes up approx 0.07% of Ubs Oconnor’s portfolio. Peak6 Investments added ANET to its portfolio by purchasing 8,585 company shares during the most recent quarter which is valued at $579,144. Arista Networks Inc makes up approx 0.05% of Peak6 Investments’s portfolio. First Interstate Bank sold out all of its stake in ANET during the most recent quarter. The investment firm sold 1,150 shares of ANET which is valued $77,579.

Arista Networks Inc opened for trading at $72.73 and hit $74.18 on the upside on Wednesday, eventually ending the session at $74.08, with a gain of 1.08% or 0.79 points. The heightened volatility saw the trading volume jump to 4,92,467 shares. Company has a market cap of $5,084 M.

On the company’s financial health, Arista Networks Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.60. The company had revenue of $242.20 million for the quarter, compared to analysts expectations of $237.55 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Arista Networks Inc. 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 .Company shares were Reiterated by RBC Capital Mkts on Mar 30, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .

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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