Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Insider Sells $213,608.40 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares of the company’s stock, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Equinix Stock Performance

Shares of Equinix stock opened at $973.80 on Friday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a market cap of $93.96 billion, a price-to-earnings ratio of 87.81, a PEG ratio of 2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50 day moving average price is $909.18 and its 200 day moving average price is $837.52.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.75%. Equinix’s dividend payout ratio is currently 153.65%.

Analyst Ratings Changes

Several brokerages recently weighed in on EQIX. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial lifted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $962.56.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC raised its position in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after purchasing an additional 398,494 shares during the period. Adelante Capital Management LLC raised its position in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares during the period. Principal Financial Group Inc. raised its position in Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after buying an additional 160,906 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.