Equinix, Inc. (NASDAQ:EQIX) Insider Sells $199,891.95 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Kurt Pletcher also recently made the following trade(s):

• On Thursday, January 16th, Kurt Pletcher sold 341 shares of Equinix stock. The stock was sold at an average price of $903.72, for a total value of $308,168.52.
• On Tuesday, December 3rd, Kurt Pletcher sold 222 shares of Equinix stock. The stock was sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Price Performance

Shares of EQIX traded up $1.51 during mid-day trading on Thursday, hitting $940.59. The company’s stock had a trading volume of 275,366 shares, compared to its average volume of 500,881. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a 50-day simple moving average of $932.87 and a 200 day simple moving average of $899.70. The firm has a market capitalization of $91.55 billion, a P/E ratio of 110.01, a P/E/G ratio of 2.28 and a beta of 0.72. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 1.99%. Equinix’s payout ratio is currently 199.30%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Oppenheimer raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Scotiabank dropped their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Equinix has a consensus rating of “Buy” and an average price target of $994.82.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Equinix during the fourth quarter worth $28,000. Kestra Investment Management LLC acquired a new position in Equinix during the fourth quarter worth $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Pacific Center for Financial Services raised its holdings in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.