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

Arista Networks, Inc. (NYSE:ANET)’s stock is scheduled to split on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks Price Performance

NYSE:ANET opened at $405.82 on Monday. Arista Networks has a one year low of $210.69 and a one year high of $431.97. The business has a fifty day moving average price of $396.66 and a 200-day moving average price of $357.16. The firm has a market capitalization of $127.81 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 3.07 and a beta of 1.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share. On average, equities research analysts expect that Arista Networks will post 7.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Arista Networks from $265.00 to $320.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Evercore ISI lifted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup lifted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays upped their price target on shares of Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $395.19.

Insider Buying and Selling

In related news, insider John F. Mccool sold 1,585 shares of Arista Networks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $394.33, for a total transaction of $625,013.05. Following the completion of the sale, the insider now owns 72 shares of the company’s stock, valued at $28,391.76. The trade was a 95.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,363,647.84. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,771 shares of company stock worth $29,995,584 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Hedge Funds Weigh In On Arista Networks

Several institutional investors and hedge funds have recently modified their holdings of ANET. Cetera Advisors LLC increased its stake in shares of Arista Networks by 185.8% during the first quarter. Cetera Advisors LLC now owns 17,032 shares of the technology company’s stock worth $4,939,000 after purchasing an additional 11,073 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Arista Networks by 63.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the technology company’s stock worth $330,000 after buying an additional 443 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Arista Networks by 24.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the technology company’s stock valued at $229,000 after acquiring an additional 130 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Arista Networks in the second quarter valued at approximately $35,000. Finally, Versant Capital Management Inc boosted its stake in shares of Arista Networks by 2,100.0% in the second quarter. Versant Capital Management Inc now owns 176 shares of the technology company’s stock worth $62,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

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.