Roundview Capital LLC Has $2.17 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Roundview Capital LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,965 shares of the technology company's stock after purchasing an additional 3,577 shares during the quarter. Roundview Capital LLC's holdings in Arista Networks were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ANET. Forbes J M & Co. LLP boosted its stake in Arista Networks by 3.1% in the first quarter. Forbes J M & Co. LLP now owns 70,444 shares of the technology company's stock worth $5,458,000 after purchasing an additional 2,148 shares in the last quarter. SYM FINANCIAL Corp boosted its stake in Arista Networks by 103.3% in the first quarter. SYM FINANCIAL Corp now owns 5,950 shares of the technology company's stock worth $461,000 after purchasing an additional 3,023 shares in the last quarter. BlueChip Wealth Advisors LLC boosted its stake in Arista Networks by 39.0% in the first quarter. BlueChip Wealth Advisors LLC now owns 3,186 shares of the technology company's stock worth $247,000 after purchasing an additional 894 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Arista Networks by 2.3% in the first quarter. KLP Kapitalforvaltning AS now owns 503,400 shares of the technology company's stock worth $39,003,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Pier 88 Investment Partners LLC raised its position in shares of Arista Networks by 1.5% during the first quarter. Pier 88 Investment Partners LLC now owns 7,960 shares of the technology company's stock worth $617,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $1.02 during trading hours on Thursday, hitting $114.06. The company's stock had a trading volume of 5,367,155 shares, compared to its average volume of 8,503,742. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.57. The stock has a 50 day moving average of $98.50 and a 200 day moving average of $94.95. The company has a market capitalization of $143.25 billion, a PE ratio of 48.28, a price-to-earnings-growth ratio of 3.28 and a beta of 1.40.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. The company's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Arista Networks declared that its board has initiated a share buyback program on Tuesday, May 6th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ANET shares. Needham & Company LLC started coverage on Arista Networks in a research report on Wednesday, May 28th. They set a "buy" rating for the company. BNP Paribas Exane downgraded Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 price objective for the company. in a report on Wednesday, June 11th. Morgan Stanley upped their price objective on Arista Networks from $73.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Rosenblatt Securities upped their price objective on Arista Networks from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Wolfe Research began coverage on Arista Networks in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $111.40.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 748,444 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $102.43, for a total transaction of $76,663,118.92. Following the completion of the transaction, the chief executive officer directly owned 30,000 shares in the company, valued at approximately $3,072,900. This trade represents a 96.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total value of $7,205,600.00. Following the transaction, the senior vice president owned 12,976 shares of the company's stock, valued at approximately $1,168,748.32. The trade was a 86.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,177,878 shares of company stock worth $119,281,861. 3.39% of the stock is owned by corporate insiders.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.