Arista Networks (ANET) : Traders are getting increasingly bearish on Arista Networks (ANET), as can be seen in the addition of short positions from 4,737,010 on Jul 29, 2016, to 5,027,753 on August 15, 2016. The net change in shorts is 290,743 shares, an increase of 6.1%. 6 days remain before the expiry. The 12.3% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 879,449. The short interest information was released on Wednesday Aug 24th after the market close.
Arista Networks (NYSE:ANET): The stock opened at $78.39 on Wednesday but the bulls could not build on the opening and the stock topped out at $78.84 for the day. The stock traded down to $77.35 during the day, due to lack of any buying support eventually closed down at $77.53 with a loss of -0.65% for the day. The stock had closed at $78.04 on the previous day. The total traded volume was 411,849 shares.
In a related news, The Securities and Exchange Commission has divulged that Smith Mark Stephen, officer (Sr. VP, Worldwide Sales) of Arista Networks, Inc., had unloaded 5,000 shares at an average price of $77.1 in a transaction dated on August 15, 2016. The total value of the transaction was worth $385,500.
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.