Arista Networks (ANET) Surges on First Trading Day After IPO (Update)

Update (4:46 p.m.): Updated with Friday market close information.

NEW YORK (TheStreet) -- Arista Networks  (ANET) surged more than 35% Friday, its first day of trading after the company's IPO.

The company, which makes ethernet switches for data centers that power the cloud, priced its IPO at $43 a share, above the expected range of $36 to $40 a share. Arista announced the initial public offering of 5.25 million shares, with a 30-day option for underwriters to purchase up to 787,500 additional shares of common stock at $43 a share to cover any over-allotments.

The stock opened at $55.25 and rose to a high of $60 for the day. It closed at $55 and more than 7.25 million shares traded during the day.

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ANET Price Chart

ANET Price data by YCharts

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