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

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 issued shares will be distributed to shareholders after the closing bell on Tuesday, December 3rd.

Arista Networks Trading Down 3.0 %

Shares of Arista Networks stock opened at $374.39 on Monday. Arista Networks has a 52 week low of $208.00 and a 52 week high of $431.97. The company’s 50-day moving average price is $388.59 and its two-hundred day moving average price is $349.99. The stock has a market cap of $117.91 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 3.02 and a beta of 1.08.

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 analysts’ consensus estimates of $2.08 by $0.32. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts predict that Arista Networks will post 7.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ANET shares. Barclays upped their price target on Arista Networks from $341.00 to $495.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Evercore ISI increased their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target 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. UBS Group upped their price objective on shares of Arista Networks from $369.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities lifted their target price on shares of Arista Networks from $265.00 to $320.00 and gave the company a “sell” rating in a research note on Friday, November 8th. One equities 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 company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $395.19.

Insider Activity

In related news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. This represents a 12.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 78,346 shares of company stock valued at $30,021,432. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arista Networks

Several institutional investors and hedge funds have recently made changes to their positions in ANET. Zions Bancorporation N.A. boosted its holdings in shares of Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares in the last quarter. Intellectus Partners LLC increased its stake 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 valued at $740,000 after buying an additional 27 shares in the last quarter. First Affirmative Financial Network raised its holdings in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares during the last quarter. Altman Advisors Inc. lifted its position in Arista Networks by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares in the last quarter. Finally, FCG Investment Co grew its holdings 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 acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

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.