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

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of the company’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 transaction of $199,891.95. Following the completion of the transaction, the insider now owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 stock was sold at an average price of $962.20, for a total transaction of $213,608.40.

Equinix Trading Up 0.2 %

NASDAQ EQIX opened at $940.59 on Friday. The company has a fifty day simple moving average of $932.17 and a two-hundred day simple moving average of $899.99. The stock has a market cap of $91.55 billion, a P/E ratio of 110.01, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month 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.

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

Equinix Increases Dividend

The firm 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 $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 199.30%.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Inspire Trust Co. N.A. raised its stake in Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC grew its holdings in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 12 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets cut their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.