Representative James Comer (R-Kentucky) recently bought shares of Arista Networks, Inc. NYSE: ANET. In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Arista Networks stock on January 2nd.
Representative James Comer also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Palo Alto Networks NASDAQ: PANW on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Dover NYSE: DOV on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of PayPal NASDAQ: PYPL on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Uber Technologies NYSE: UBER on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Amphenol NYSE: APH on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Apple NASDAQ: AAPL on 1/2/2025.
- Purchased $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 1/2/2025.
Arista Networks Trading Up 1.0 %
ANET stock traded up $1.16 during trading on Wednesday, reaching $116.07. The stock had a trading volume of 7,185,246 shares, compared to its average volume of 6,260,409. The firm has a fifty day moving average price of $107.03 and a 200 day moving average price of $96.46. The company has a market capitalization of $146.22 billion, a P/E ratio of 55.80, a PEG ratio of 3.21 and a beta of 1.08. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $120.28.
Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The business's quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Sell-side analysts predict that Arista Networks, Inc. will post 1.96 EPS for the current year.
Insider Activity at Arista Networks
In other news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 2,496 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $96.83, for a total value of $241,693.92. The disclosure for this sale can be found here. Insiders sold a total of 345,316 shares of company stock valued at $37,761,976 over the last ninety days. Insiders own 3.54% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on ANET. Citigroup increased their target price on shares of Arista Networks from $96.25 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. StockNews.com lowered Arista Networks from a "buy" rating to a "hold" rating in a research report on Thursday, December 12th. Piper Sandler reissued a "neutral" rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Barclays cut their price objective on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of Arista Networks from $92.25 to $106.25 and gave the stock a "neutral" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average price target of $102.42.
Check Out Our Latest Stock Analysis on ANET
Hedge Funds Weigh In On Arista Networks
Several hedge funds have recently modified their holdings of ANET. GW Henssler & Associates Ltd. boosted its stake in Arista Networks by 3.6% during the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company's stock valued at $24,274,000 after buying an additional 2,219 shares in the last quarter. Deepwater Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $15,084,000. Sumitomo Life Insurance Co. boosted its position in shares of Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company's stock valued at $3,465,000 after purchasing an additional 3,711 shares in the last quarter. Walkner Condon Financial Advisors LLC acquired a new position in shares of Arista Networks in the 3rd quarter worth approximately $2,318,000. Finally, Greenleaf Trust raised its holdings in shares of Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company's stock worth $5,076,000 after purchasing an additional 2,216 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.
About Representative Comer
James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky's 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky's 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer "instrumental in the final passage of a five-year farm bill," noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.
About Arista Networks
(
Get Free Report)
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.
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