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

Arista Networks, Inc. (NYSE:ANET - Free Report) shares are going 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 Stock Down 1.0 %

Arista Networks stock traded down $3.92 during trading hours on Monday, reaching $370.47. 2,604,996 shares of the company's stock were exchanged, compared to its average volume of 2,232,701. The firm has a market capitalization of $116.68 billion, a PE ratio of 45.00, a PEG ratio of 3.02 and a beta of 1.08. The firm's 50 day simple moving average is $388.59 and its 200 day simple moving average is $349.99. Arista Networks has a twelve month low of $210.69 and a twelve month high of $431.97.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Thursday, November 7th. The technology company reported $2.40 EPS 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 during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The firm's revenue was up 20.0% on a year-over-year basis. Analysts anticipate that Arista Networks will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ANET. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Needham & Company LLC restated a "buy" rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. Jefferies Financial Group upped their price target on Arista Networks from $340.00 to $380.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Barclays raised their price objective on Arista Networks from $341.00 to $495.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Citigroup upped their target price on Arista Networks from $385.00 to $460.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $395.19.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company's stock, valued at approximately $6,264,201.49. The trade was a 50.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 3,244 shares of the company's stock, valued at $1,363,647.84. This represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,346 shares of company stock valued at $30,021,432 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arista Networks

Several institutional investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group grew its stake in shares of Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company's stock worth $453,000 after acquiring an additional 43 shares during the period. Sunbelt Securities Inc. boosted its position in Arista Networks by 193.2% during the third quarter. Sunbelt Securities Inc. now owns 689 shares of the technology company's stock worth $264,000 after purchasing an additional 454 shares during the period. Toronto Dominion Bank increased its stake in shares of Arista Networks by 1.0% in the third quarter. Toronto Dominion Bank now owns 139,712 shares of the technology company's stock worth $53,624,000 after purchasing an additional 1,355 shares in the last quarter. Chiron Investment Management LLC bought a new stake in shares of Arista Networks in the third quarter valued at approximately $3,805,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Arista Networks during the 3rd quarter valued at approximately $1,688,000. Hedge funds and other institutional investors 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.