Rep. Robert Bresnahan, Jr. Sells Arista Networks, Inc. (NYSE:ANET) Stock

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 Stock Performance

NYSE:ANET traded up $1.02 during mid-day trading on Thursday, reaching $114.06. The stock had a trading volume of 5,343,316 shares, compared to its average volume of 10,588,251. The firm has a 50 day moving average price of $98.14 and a two-hundred day moving average price of $94.98. The stock has a market capitalization of $143.25 billion, a P/E ratio of 48.28, a P/E/G ratio of 3.19 and a beta of 1.40. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $133.57.

Arista Networks (NYSE:ANET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.97 billion. Arista Networks had a return on equity of 30.48% and a net margin of 40.72%. Arista Networks's quarterly revenue 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. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks announced that its board has authorized a share buyback 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Arista Networks

Hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC raised its stake in shares of Arista Networks by 1.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company's stock worth $618,000 after purchasing an additional 95 shares during the last quarter. 1900 Wealth Management LLC increased its position in Arista Networks by 2.3% during the second quarter. 1900 Wealth Management LLC now owns 4,338 shares of the technology company's stock valued at $444,000 after acquiring an additional 98 shares during the last quarter. Wesbanco Bank Inc. increased its position in Arista Networks by 2.3% during the second quarter. Wesbanco Bank Inc. now owns 4,508 shares of the technology company's stock valued at $461,000 after acquiring an additional 100 shares during the last quarter. XML Financial LLC increased its position in Arista Networks by 0.6% in the second quarter. XML Financial LLC now owns 16,185 shares of the technology company's stock worth $1,656,000 after buying an additional 100 shares in the last quarter. Finally, CX Institutional increased its position in Arista Networks by 1.4% in the second quarter. CX Institutional now owns 7,703 shares of the technology company's stock worth $788,000 after buying an additional 110 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of Arista Networks from a "hold" rating to a "buy" rating in a report on Wednesday. Citigroup raised their price target on shares of Arista Networks from $112.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wolfe Research started coverage on shares of Arista Networks in a report on Tuesday, July 8th. They set an "outperform" rating for the company. KeyCorp started coverage on Arista Networks in a research note on Thursday, June 26th. They issued an "overweight" rating and a $115.00 target price on the stock. Finally, BNP Paribas cut Arista Networks from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 11th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.40.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 65,784 shares in the company, valued at $6,536,298.24. This represents a 10.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $111.19, for a total value of $3,335,700.00. Following the transaction, the senior vice president directly owned 12,976 shares of the company's stock, valued at approximately $1,442,801.44. The trade was a 69.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,177,878 shares of company stock worth $119,281,861. Corporate insiders own 3.39% of the company's stock.

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.