Criterion Capital Management adds Arista Networks Inc (ANET) to its portfolio

Arista Networks Inc (ANET) : Criterion Capital Management added new position in Arista Networks Inc during the most recent quarter end. The investment management firm now holds 1,140,217 shares of Arista Networks Inc which is valued at $86,405,644 , the company said in a statement filed on Aug 15, 2016 with the SEC.Arista Networks Inc makes up approximately 3.92% of Criterion Capital Management’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al boosted its stake in ANET in the latest quarter, The investment management firm added 8,240 additional shares and now holds a total of 10,940 shares of Arista Networks Inc which is valued at $829,033. Arista Networks Inc makes up approx 0.03% of Tudor Investment Corp Et Al’s portfolio.Blackrock Investment Management boosted its stake in ANET in the latest quarter, The investment management firm added 2,794 additional shares and now holds a total of 15,259 shares of Arista Networks Inc which is valued at $1,156,327.New York State Common Retirement Fund boosted its stake in ANET in the latest quarter, The investment management firm added 14,700 additional shares and now holds a total of 92,100 shares of Arista Networks Inc which is valued at $6,979,338. Arista Networks Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio. M&r Capital Management Inc added ANET to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $15,156.Advisory Services Network boosted its stake in ANET in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 119 shares of Arista Networks Inc which is valued at $8,413.

Arista Networks Inc closed down -0.01 points or -0.01% at $79.67 with 6,72,804 shares getting traded on Thursday. Post opening the session at $79.93, the shares hit an intraday low of $79.29 and an intraday high of $80.39 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Company shares were Reiterated by RBC Capital Mkts on Aug 31, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $70 .Company shares were Reiterated by UBS on Aug 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 72 from a previous price target of $68 .Arista Networks Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 27, 2016.

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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