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

Representative Jefferson Shreve (R-Indiana) recently sold shares of Arista Networks, Inc. NYSE: ANET. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in Arista Networks stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

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

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Arista Networks Price Performance

Shares of ANET stock traded up $1.02 on Thursday, hitting $114.06. 5,367,155 shares of the company's stock were exchanged, compared to its average volume of 10,588,422. The company has a 50 day moving average of $98.14 and a 200 day moving average of $94.98. The stock has a market cap of $143.25 billion, a P/E ratio of 48.28, a price-to-earnings-growth ratio of 3.19 and a beta of 1.40. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted its 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. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company's revenue for the quarter was up 27.6% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $99.36, for a total transaction of $794,880.00. Following the sale, the director owned 65,784 shares of the company's stock, valued at $6,536,298.24. The trade was a 10.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 80,000 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president owned 12,976 shares in the company, valued at approximately $1,168,748.32. This trade represents a 86.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,177,878 shares of company stock worth $119,281,861. 3.39% of the stock is owned by corporate insiders.

Institutional Trading of Arista Networks

A number of large investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its stake in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares in the last quarter. HighMark Wealth Management LLC raised its position in Arista Networks by 179.7% during the 1st quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock valued at $28,000 after purchasing an additional 230 shares during the last quarter. Quarry LP boosted its stake in shares of Arista Networks by 381.5% during the 4th quarter. Quarry LP now owns 260 shares of the technology company's stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Arista Networks by 415.7% during the 4th quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after acquiring an additional 212 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in shares of Arista Networks during the first quarter valued at approximately $30,000. Institutional investors own 82.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANET shares. KGI Securities downgraded shares of Arista Networks to a "neutral" rating in a research note on Wednesday, May 7th. Redburn Atlantic assumed coverage on Arista Networks in a research report on Wednesday, May 28th. They issued a "buy" rating and a $112.00 target price for the company. Citigroup increased their price target on Arista Networks from $112.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, BNP Paribas Exane cut Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price on the stock. in a report on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.40.

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.