Rep. Jefferson Shreve Purchases Shares of Arista Networks, Inc. (NYSE:ANET)

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 Up 5.1%

NYSE:ANET traded up $4.72 during mid-day trading on Tuesday, hitting $97.04. The stock had a trading volume of 7,207,559 shares, compared to its average volume of 9,052,096. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $133.58. The stock has a market capitalization of $121.87 billion, a price-to-earnings ratio of 43.71, a P/E/G ratio of 3.10 and a beta of 1.38. The company has a 50 day simple moving average of $79.03 and a 200-day simple moving average of $97.25.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business'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 business posted $0.50 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of ANET. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 304.2% during the 4th quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC raised its holdings in shares of Arista Networks by 330.9% during the 4th quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after buying an additional 44,269,572 shares in the last quarter. Cresset Asset Management LLC grew its position in Arista Networks by 277.5% in the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock valued at $3,016,207,000 after acquiring an additional 20,059,303 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Arista Networks by 218.5% during the 4th quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after purchasing an additional 14,454,822 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ANET shares. Piper Sandler restated a "neutral" rating and issued a $89.00 target price (up previously from $76.00) on shares of Arista Networks in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price objective on Arista Networks from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays decreased their target price on Arista Networks from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Morgan Stanley upped their price target on Arista Networks from $73.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $106.07.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now owns 8,128 shares in the company, valued at $870,752.64. The trade was a 15.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 412,355 shares of company stock worth $37,216,079 over the last quarter. Corporate insiders own 3.39% of the company's stock.

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.

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.