Equinix (NASDAQ:EQIX) Insider Sells $200,807.64 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 198 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total value of $200,807.64. Following the sale, the insider directly owned 3,879 shares in the company, valued at approximately $3,934,004.22. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, August 20th, Kurt Pletcher sold 135 shares of Equinix stock. The stock was sold at an average price of $1,075.50, for a total transaction of $145,192.50.

Equinix Stock Performance

EQIX opened at $1,068.06 on Thursday. The business’s 50-day moving average price is $1,017.79 and its two-hundred day moving average price is $1,017.28. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a market capitalization of $105.39 billion, a price-to-earnings ratio of 64.15, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $9.83 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 39.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s payout ratio is 123.96%.

Analyst Ratings Changes

EQIX has been the subject of several analyst reports. Evercore restated an “outperform” rating and issued a $1,270.00 price objective (up from $1,240.00) on shares of Equinix in a report on Tuesday, August 18th. Sanford C. Bernstein upped their target price on Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. TD Cowen upped their target price on Equinix from $1,166.00 to $1,210.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Mizuho set a $1,275.00 price target on Equinix in a research report on Thursday, October 29th. Finally, Deutsche Bank restated a “buy” rating on shares of Equinix in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $1,234.13.

Institutional Trading of Equinix

Hedge funds have recently made changes to their positions in the business. Moore Capital Management LP raised its position in shares of Equinix by 235.7% in the second quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider’s stock valued at $8,000,000 after purchasing an additional 5,389 shares during the period. Legal & General Group Plc acquired a new stake in shares of Equinix during the 2nd quarter worth about $1,181,260,000. Bamco Inc. NY acquired a new stake in shares of Equinix during the 2nd quarter worth about $203,930,000. Empowered Funds LLC bought a new stake in shares of Equinix during the 2nd quarter worth about $5,778,000. Finally, Corient Private Wealth LP boosted its holdings in shares of Equinix by 20.9% during the 2nd quarter. Corient Private Wealth LP now owns 12,597 shares of the financial services provider’s stock worth $13,132,000 after buying an additional 2,181 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.