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

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares of the company’s stock, 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 SEC, which can be accessed 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 shares were 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 shares were sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Stock Down 2.2 %

EQIX opened at $919.68 on Friday. 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 stock has a market capitalization of $89.51 billion, a price-to-earnings ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The business has a 50 day moving average of $931.27 and a 200-day moving average of $901.85.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the fourth quarter valued at $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 stake 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 acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake 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 acquiring an additional 13 shares in the last quarter. Finally, Pacific Center for Financial Services raised its stake 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 acquiring an additional 15 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. BMO Capital Markets decreased their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank decreased their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus price target of $994.82.

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.