Arista Networks (NYSE:ANET) is preparing for a stock split that traders will want to keep an eye on.
Let’s jump into the details of the Arista Networks stock split below!
- The company’s Board of Directors has approved a one-for-four stock split.
- Shareholders on record at the close of business on Nov. 11 will receive an extra three shares of ANET stock for each share they own.
- Following this, shares of the company’s stock will start trading on a split-adjusted basis on Nov. 18.
- Arista Networks notes that the goal of the stock split is to make its shares more accessible to a broader base of investors.
- That makes sense as the current price of ANET stock is hovering around 509% per share.
- Splitting shares means that shareholders still retain their current stakes while opening up the stock to new traders.
The Arista Networks stock split news came in the company’s Q3 2021 earnings report. Company CEO Jayshree Ullal said the following about performance during the period.
“We are experiencing strong demand for our pioneering client to cloud networking portfolio across all of our customer sectors. Despite a challenging supply chain environment, I am pleased with our delivery of another record quarter of Arista’s financial results in Q3 2021.”
ANET stock is seeing heavy trading today alongside the split and earnings news. That has close to 2 million shares on the move as of this writing. For the record, the company’s daily average trading volume is closer to 418,000 shares.
ANET stock was up 24.7% as of Tuesday morning and is up 80.1% since the start of the year.
There’s loads of more stock news to dive into below!
Fortunately, we’ve got investors covered with our daily dives into the stock market. That includes why shares of Baosheng Media (NASDAQ:BAOS), Tesla (NASDAQ:TSLA), and Nxt-ID (NASDAQ:NXTD) are on the move today. You can get up to speed on those topics at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.