Morgens Waterfall Vintiadis Co Inc adds Arista Networks Inc (ANET) to its portfolio

Arista Networks Inc (ANET) : Morgens Waterfall Vintiadis Co Inc added new position in Arista Networks Inc during the most recent quarter end. The investment management firm now holds 24,000 shares of Arista Networks Inc which is valued at $1,992,240 , the company said in a statement filed on Oct 12, 2016 with the SEC.Arista Networks Inc makes up approximately 1.80% of Morgens Waterfall Vintiadis Co Inc’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in ANET in the latest quarter, The investment management firm added 694 additional shares and now holds a total of 3,805 shares of Arista Networks Inc which is valued at $315,853.Cupps Capital Management boosted its stake in ANET in the latest quarter, The investment management firm added 4,660 additional shares and now holds a total of 12,977 shares of Arista Networks Inc which is valued at $1,122,900. Arista Networks Inc makes up approx 0.49% of Cupps Capital Management’s portfolio.Bristol John W Co Inc Ny reduced its stake in ANET by selling 1,972 shares or 3.2% in the most recent quarter. The Hedge Fund company now holds 59,735 shares of ANET which is valued at $5,168,870. Arista Networks Inc makes up approx 0.14% of Bristol John W Co Inc Ny’s portfolio. Simplex Trading sold out all of its stake in ANET during the most recent quarter. The investment firm sold 607 shares of ANET which is valued $51,680.Bnp Paribas Arbitrage Sa boosted its stake in ANET in the latest quarter, The investment management firm added 6,636 additional shares and now holds a total of 7,334 shares of Arista Networks Inc which is valued at $623,170.

Arista Networks Inc closed down -3.52 points or -4.07% at $83.01 with 6,39,986 shares getting traded on Tuesday. Post opening the session at $86.5, the shares hit an intraday low of $82.41 and an intraday high of $86.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Shares were Downgraded by MKM Partners on Sep 19, 2016 to ” Neutral” and Lowered the Price Target to $ 79 from a previous price target of $81 .Company shares were Reiterated by Deutsche Bank on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .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 .

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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