Deane Retirement Strategies Lowers stake in Arista Networks Inc (ANET)

Arista Networks Inc (ANET) : Deane Retirement Strategies reduced its stake in Arista Networks Inc by 2.73% during the most recent quarter end. The investment management company now holds a total of 24,318 shares of Arista Networks Inc which is valued at $1,542,977 after selling 683 shares in Arista Networks Inc , the firm said in a disclosure report filed with the SEC on Jul 5, 2016.Arista Networks Inc makes up approximately 1.39% of Deane Retirement Strategies’s portfolio.

Arista Networks Inc opened for trading at $68.66 and hit $71.54 on the upside on Monday, eventually ending the session at $69.8, with a gain of 3.06% or 2.07 points. The heightened volatility saw the trading volume jump to 12,57,203 shares. Company has a market cap of $4,790 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 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.

Leave a Reply

Arista Networks Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Arista Networks Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.