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

Shares of Arista Networks, Inc. (NYSE:ANET) are going to split before the market opens on Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks Trading Up 5.9 %

Shares of ANET opened at $404.33 on Friday. The stock has a 50 day simple moving average of $392.27 and a 200-day simple moving average of $352.06. The stock has a market cap of $127.34 billion, a PE ratio of 48.60, a PEG ratio of 3.04 and a beta of 1.08. Arista Networks has a 1 year low of $210.69 and a 1 year high of $431.97.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.63 earnings per share. On average, sell-side analysts forecast that Arista Networks will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. Rosenblatt Securities lifted their price objective on Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays lifted their target price on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $395.19.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $337.23, for a total transaction of $280,575.36. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $5,962,563.63. This trade represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $420.36, for a total transaction of $8,407,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,363,647.84. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,019 shares of company stock worth $22,819,548. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

A number of institutional investors have recently modified their holdings of the company. Zions Bancorporation N.A. lifted its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% in the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. Altman Advisors Inc. increased its stake in Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after buying an additional 28 shares during the last quarter. Finally, FCG Investment Co lifted its position in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.