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

Arista Networks, Inc. (NYSE:ANET) shares are set to split on the morning of Wednesday, December 4th. The 4-1 split was announced on Thursday, November 7th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks Trading Up 0.9 %

ANET opened at $405.82 on Monday. Arista Networks has a twelve month low of $210.69 and a twelve month high of $431.97. The firm has a market capitalization of $127.81 billion, a PE ratio of 48.78, a PEG ratio of 3.07 and a beta of 1.08. The firm’s 50-day moving average price is $396.66 and its 200 day moving average price is $357.16.

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

Analysts Set New Price Targets

Several research firms have recently commented on ANET. Evercore ISI lifted their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays boosted 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. Piper Sandler reiterated a “neutral” rating and issued a $421.00 price objective (up previously from $345.00) on shares of Arista Networks in a report on Friday, November 8th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $265.00 to $320.00 and gave the stock a “sell” rating in a research note on Friday, November 8th. Finally, Citigroup boosted their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $395.19.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Mccool sold 1,585 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 approximately $28,391.76. The trade was a 95.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,771 shares of company stock valued at $29,995,584 over the last quarter. Company insiders own 3.54% of the company’s stock.

Institutional Trading of Arista Networks

Several hedge funds have recently modified their holdings of ANET. American Trust boosted its holdings in Arista Networks by 71.7% during the third quarter. American Trust now owns 4,382 shares of the technology company’s stock worth $1,682,000 after buying an additional 1,830 shares in the last quarter. Old North State Trust LLC raised its holdings in Arista Networks by 6.9% during the third quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock worth $526,000 after purchasing an additional 89 shares during the last quarter. Franklin Resources Inc. grew its holdings in Arista Networks by 16.3% in the third quarter. Franklin Resources Inc. now owns 979,592 shares of the technology company’s stock valued at $405,032,000 after purchasing an additional 137,564 shares during the last quarter. Synovus Financial Corp increased its position in shares of Arista Networks by 6.2% in the third quarter. Synovus Financial Corp now owns 5,613 shares of the technology company’s stock valued at $2,154,000 after buying an additional 327 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Arista Networks by 5.6% during the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock worth $14,348,000 after buying an additional 1,998 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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.