Equinix, Inc. (NASDAQ:EQIX) Insider Sells $111,467.90 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, February 18th, Kurt Pletcher sold 215 shares of Equinix stock. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95.

Equinix Stock Performance

NASDAQ EQIX opened at $864.39 on Friday. The company has a fifty day moving average price of $825.01 and a 200-day moving average price of $894.11. The firm has a market cap of $84.55 billion, a price-to-earnings ratio of 101.10, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business posted $8.86 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.17%. Equinix’s dividend payout ratio is currently 195.01%.

Institutional Investors Weigh In On Equinix

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $219,000. Diversified Trust Co lifted its stake in Equinix by 3.3% in the fourth quarter. Diversified Trust Co now owns 667 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 21 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in Equinix by 134.5% during the fourth quarter. Fulton Bank N.A. now owns 605 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 347 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Securities boosted their price objective on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank lowered their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 22nd. Citigroup increased their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $1,005.11.

About Equinix

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.