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 March 07th, the Representative disclosed that they had sold between $1,001 and $15,000 in Arista Networks stock on February 13th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

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

• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/12/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/12/2025.
• Purchased $1,001 – $15,000 in shares of monday.com (NASDAQ:MNDY) on 2/11/2025.
• Sold $1,001 – $15,000 in shares of Onsemi (NASDAQ:ON) on 2/11/2025.
• Purchased $1,001 – $15,000 in shares of MACOM Technology Solutions (NASDAQ:MTSI) on 2/10/2025.
• Sold $1,001 – $15,000 in shares of Trade Desk (NASDAQ:TTD) on 2/10/2025.
• Purchased $1,001 – $15,000 in shares of Cloudflare (NYSE:NET) on 2/10/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 2/10/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/10/2025.

Arista Networks Trading Up 1.9 %

Shares of NYSE ANET traded up $1.51 during mid-day trading on Tuesday, reaching $79.07. 11,280,352 shares of the company’s stock were exchanged, compared to its average volume of 8,743,979. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.58. The firm has a market capitalization of $99.72 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.10 and a beta of 1.08. The business has a fifty day simple moving average of $108.24 and a 200 day simple moving average of $102.10.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. Morgan Stanley upped their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler reiterated a “neutral” rating and set a $108.00 price objective (up previously from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Insider Buying and Selling at Arista Networks

In related news, SVP Marc Taxay sold 51,848 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the transaction, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. The trade was a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $49,112,111 in the last ninety days. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arista Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitlin John LLC raised its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Cranbrook Wealth Management LLC raised its stake in Arista Networks by 300.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Trust Co. of Vermont lifted its position in Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC grew its stake in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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.