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

Arista Networks, Inc. (NYSE:ANET)’s stock is scheduled 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 issued to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks Price Performance

Arista Networks stock opened at $404.33 on Friday. The company’s 50-day moving average is $392.27 and its 200-day moving average is $352.06. The firm has a market capitalization of $127.34 billion, a PE ratio of 48.60, a P/E/G ratio of 3.04 and a beta of 1.08. Arista Networks has a fifty-two week low of $210.69 and a fifty-two week high of $431.97.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $1.81 billion during 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%. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. As a group, analysts expect that Arista Networks will post 7.75 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their target price 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. Wells Fargo & Company upped 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. UBS Group raised their price objective on shares of Arista Networks from $369.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $421.00 target price (up previously from $345.00) on shares of Arista Networks in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $395.19.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. The trade was a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $337.23, for a total value of $280,575.36. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,962,563.63. The trade was a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,019 shares of company stock valued at $22,819,548 over the last quarter. 3.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GW Henssler & Associates Ltd. lifted its stake in Arista Networks by 3.6% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after purchasing an additional 2,219 shares during the last quarter. Deepwater Asset Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at $15,084,000. Sumitomo Life Insurance Co. grew its position in Arista Networks by 69.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,028 shares of the technology company’s stock worth $3,465,000 after acquiring an additional 3,711 shares during the last quarter. Walkner Condon Financial Advisors LLC acquired a new position in Arista Networks in the 3rd quarter worth about $2,318,000. Finally, Canada Pension Plan Investment Board raised its position in Arista Networks by 148.8% in the first quarter. Canada Pension Plan Investment Board now owns 132,632 shares of the technology company’s stock valued at $38,461,000 after purchasing an additional 79,322 shares during the last quarter. 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.