Equinix, Inc. (NASDAQ:EQIX) Insider Kurt Pletcher Sells 215 Shares

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. The trade was a 14.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $308,168.52.
• On Tuesday, December 3rd, Kurt Pletcher sold 222 shares of Equinix stock. The shares were sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Stock Performance

NASDAQ:EQIX opened at $940.59 on Friday. The firm has a market capitalization of $91.55 billion, a PE ratio of 110.01, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. 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’s fifty day simple moving average is $932.17 and its 200 day simple moving average is $899.99.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

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

Institutional Trading of Equinix

A number of hedge funds have recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in Equinix during the 4th quarter worth about $28,000. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter worth $31,000. Pacific Center for Financial Services lifted its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Finally, Fortitude Family Office LLC boosted its position 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 period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQIX. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Royal Bank of Canada boosted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $994.82.

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.