Arista Networks (NYSE:ANET) Shares Acquired Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) recently bought shares of Arista Networks, Inc. NYSE: ANET. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $15,001 and $50,000 in Arista Networks stock on April 7th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 - $100,000 in shares of Chipotle Mexican Grill NYSE: CMG on 4/17/2025.
• Purchased $50,001 - $100,000 in shares of Applied Materials NASDAQ: AMAT on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Caterpillar NYSE: CAT on 4/17/2025.
• Sold $15,001 - $50,000 in shares of Lululemon Athletica NASDAQ: LULU on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Western Digital NASDAQ: WDC on 4/17/2025.
• Sold $15,001 - $50,000 in shares of Zoetis NYSE: ZTS on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Stryker NYSE: SYK on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of CSX NASDAQ: CSX on 4/17/2025.
• Purchased $15,001 - $50,000 in shares of Ross Stores NASDAQ: ROST on 4/17/2025.

Arista Networks Trading Down 3.1%

Arista Networks stock traded down $3.02 during mid-day trading on Thursday, hitting $95.20. The stock had a trading volume of 2,144,932 shares, compared to its average volume of 9,052,643. The firm has a market capitalization of $119.56 billion, a P/E ratio of 42.80, a P/E/G ratio of 3.10 and a beta of 1.38. The firm's 50 day moving average is $79.58 and its 200 day moving average is $97.25. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.58.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business's revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays decreased their price objective on shares of Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Evercore ISI reduced their target price on shares of Arista Networks from $130.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. KGI Securities lowered shares of Arista Networks to a "neutral" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group reduced their target price on shares of Arista Networks from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $107.14.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the completion of the transaction, the director now owns 147,784 shares of the company's stock, valued at approximately $13,157,209.52. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $90.07, for a total transaction of $7,205,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company's stock, valued at $1,168,748.32. This trade represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,355 shares of company stock worth $37,216,079 over the last ninety days. 3.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearstead Trust LLC grew its position in Arista Networks by 5.1% during the 1st quarter. Clearstead Trust LLC now owns 2,455 shares of the technology company's stock worth $190,000 after purchasing an additional 119 shares during the last quarter. Pier 88 Investment Partners LLC raised its position in 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. Optimum Investment Advisors grew its holdings in shares of Arista Networks by 31.3% during the first quarter. Optimum Investment Advisors now owns 525 shares of the technology company's stock worth $41,000 after buying an additional 125 shares in the last quarter. PFG Advisors grew its holdings in shares of Arista Networks by 2.7% during the first quarter. PFG Advisors now owns 5,061 shares of the technology company's stock worth $392,000 after buying an additional 131 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Arista Networks by 9.4% during the first quarter. Harbour Investments Inc. now owns 1,624 shares of the technology company's stock worth $126,000 after buying an additional 139 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Arista Networks

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.