Arista Networks (ANET) : Net money flow in Arista Networks (ANET) was negative ($0.58 million) and the inflow of money on uptick was $0.06 million, whereas, the outflow of money on downticks amounted to $0.65 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.1. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $0.1 million. The money flow in block trades was negative ($0.1). Arista Networks (ANET) gained $0.05 cent during the day and reached $71.01, a gain of 0.07% over the previous day.
Also, JP Morgan initiates coverage on Arista Networks (NYSE:ANET). In the latest research report, JP Morgan announces the target price to $67 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on May 13, 2016.
Arista Networks (NYSE:ANET): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $70.96 and $69.64 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $71.29, notching a gain of 0.47% for the day. The total traded volume was 1,103,074 . The stock had closed at $70.96 on the previous day.
The stock has recorded a 20-day Moving Average of 5.34% and the 50-Day Moving Average is 2.02%. In a related news, The Securities and Exchange Commission has divulged that Duda Kenneth, officer (CTO and SVP Software Eng.) of Arista Networks, Inc., had unloaded 15,150 shares at an average price of $67.42 in a transaction dated on July 8, 2016. The total value of the transaction was worth $1,021,413.
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 Companys 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.