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

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 198 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total value of $200,807.64. Following the completion of the transaction, the insider owned 3,879 shares of the company’s stock, valued at $3,934,004.22. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 traded up $41.79 during trading on Monday, reaching $1,054.50. 836,295 shares of the company’s stock were exchanged, compared to its average volume of 597,455. The company has a market capitalization of $104.05 billion, a P/E ratio of 63.33, a PEG ratio of 1.42 and a beta of 0.98. The business has a 50 day moving average price of $1,016.72 and a 200 day moving average price of $1,013.32. Equinix, Inc. has a fifty-two week low of $720.62 and a fifty-two week high of $1,128.68. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.59.

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

Equinix Dividend Announcement

The company 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 $5.16 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix’s payout ratio is 123.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn began coverage on shares of Equinix in a research report on Monday, September 21st. They issued a “buy” rating and a $1,261.00 price objective for the company. UBS Group upped their price objective on Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a $1,340.00 target price (up from $1,300.00) on shares of Equinix in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,234.13.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently modified their holdings of the business. Avion Wealth lifted its stake in shares of Equinix by 73.3% in the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 11 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Equinix by 166.7% during the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 15 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Equinix during the second quarter worth $34,000. Cassaday & Co Wealth Management LLC bought a new stake in Equinix in the first quarter valued at about $39,000. Finally, Signature Equity Partners LLC increased its holdings in Equinix by 193.3% in the third quarter. Signature Equity Partners LLC now owns 44 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 29 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Company Profile