Rep. Robert Bresnahan, Jr. Sells Off Shares of Arista Networks, Inc. (NYSE:ANET)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Arista Networks, Inc. NYSE: ANET. In a filing disclosed on June 23rd, the Representative disclosed that they had sold between $1,001 and $15,000 in Arista Networks stock on May 29th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

Arista Networks Price Performance

Shares of Arista Networks stock traded up $0.62 during midday trading on Monday, hitting $112.40. The company had a trading volume of 3,897,944 shares, compared to its average volume of 10,648,915. The business's 50 day simple moving average is $97.19 and its two-hundred day simple moving average is $94.78. The stock has a market cap of $141.16 billion, a PE ratio of 47.58, a P/E/G ratio of 3.26 and a beta of 1.40. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last posted 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 firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 30.48%. The business's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, sell-side analysts expect 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 stock repurchase program on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANET. Capital Advisors Ltd. LLC increased its position 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 valued at $27,000 after buying an additional 191 shares during the period. HighMark Wealth Management LLC boosted its stake in Arista Networks by 179.7% in the first quarter. HighMark Wealth Management LLC now owns 358 shares of the technology company's stock worth $28,000 after buying an additional 230 shares in the last quarter. Quarry LP boosted its stake in Arista Networks by 381.5% in the fourth quarter. Quarry LP now owns 260 shares of the technology company's stock worth $29,000 after buying an additional 206 shares in the last quarter. Dunhill Financial LLC boosted its stake in Arista Networks by 415.7% in the fourth quarter. Dunhill Financial LLC now owns 263 shares of the technology company's stock worth $29,000 after buying an additional 212 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $30,000. 82.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jayshree Ullal sold 748,444 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $102.43, for a total value of $76,663,118.92. Following the completion of the sale, the chief executive officer owned 30,000 shares of the company's stock, valued at $3,072,900. This trade represents a 96.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $99.36, for a total value of $794,880.00. Following the completion of the sale, the director directly owned 65,784 shares of the company's stock, valued at $6,536,298.24. The trade was a 10.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,123,370 shares of company stock valued at $113,157,408. 3.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ANET. KeyCorp began coverage on shares of Arista Networks in a research report on Thursday, June 26th. They set an "overweight" rating and a $115.00 price objective for the company. Piper Sandler reissued a "neutral" rating and issued a $89.00 target price (up previously from $76.00) on shares of Arista Networks in a research report on Wednesday, May 7th. BNP Paribas Exane cut shares of Arista Networks from an "outperform" rating to a "neutral" rating and set a $106.00 target price for the company. in a research report on Wednesday, June 11th. Barclays cut 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 report on Thursday, May 8th. Finally, BNP Paribas cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of "Moderate Buy" and an average target price of $111.40.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.

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