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Art Technology sets 2-for-1 stock split

Art Technology Group gave its investors a reason to smile Tuesday after announcing a 2-for-1 stock split.

The split will occur on March 10, leaving the company with more than 66 million shares outstanding.

The developer of Internet customer relationship management and electronic commerce software posted a loss of $9.5 million, or 30 cents a share, on sales of $13.2 million in its fourth quarter.

Art Technology (Nasdaq: ARTG) shares closed up 8 3/4 to 144 1/2 ahead of the announcement.

Since its sparkling debut in July, the company's stock has taken off, surging to a 52-week high of 158 5/8 in January.

The stock was trading at only 10 1/4 in August.

In the year-ago quarter, the Cambridge, Mass. company posted a loss of $1.3 million, or 15 cents a share, on sales of $3.8 million.

First Call consensus expects it to lose 12 cents a share in its first quarter and 38 cents a share in the fiscal year.

All eight analysts covering the stock rate it either a "buy" or "strong buy."