Arista Networks Stock to Split on Wednesday, December 4th (NYSE:ANET)

Shares of Arista Networks, Inc. (NYSE:ANET) are scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, December 3rd.

Arista Networks Stock Performance

NYSE ANET opened at $374.39 on Monday. The stock has a market capitalization of $117.91 billion, a P/E ratio of 45.00, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08. Arista Networks has a 52 week low of $208.00 and a 52 week high of $431.97. The stock has a fifty day moving average of $388.59 and a 200-day moving average of $349.99.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. Equities research analysts forecast that Arista Networks will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group increased their price target on Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $395.19.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the sale, the senior vice president now directly owns 186,600 shares in the company, valued at $65,226,030. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $6,264,201.49. This represents a 50.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,346 shares of company stock valued at $30,021,432. 3.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arista Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GQG Partners LLC bought a new stake in shares of Arista Networks during the 1st quarter worth approximately $881,848,000. Swedbank AB acquired a new position in Arista Networks during the first quarter worth $521,767,000. Ameriprise Financial Inc. raised its position in Arista Networks by 97.2% during the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after acquiring an additional 503,597 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

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.