Equinix (NASDAQ:EQIX) Insider Kurt Pletcher Sells 290 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 290 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the transaction, the insider owned 2,433 shares of the company’s stock, valued at $1,778,985.27. The trade was a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Equinix Price Performance

Equinix stock traded up $5.34 during midday trading on Wednesday, reaching $732.72. 953,144 shares of the stock traded hands, compared to its average volume of 585,858. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock has a market cap of $71.95 billion, a P/E ratio of 67.10, a PEG ratio of 1.49 and a beta of 1.05. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $989.84. The stock’s fifty day moving average is $796.29 and its 200-day moving average is $807.14.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business posted $9.05 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 annualized dividend and a dividend yield of 2.6%. Equinix’s dividend payout ratio (DPR) is currently 171.79%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC raised its holdings in shares of Equinix by 21.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after acquiring an additional 67 shares during the last quarter. Elliott Investment Management L.P. purchased a new position in Equinix in the first quarter valued at about $122,302,000. Gradient Investments LLC lifted its position in shares of Equinix by 19.4% during the second quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock worth $19,635,000 after purchasing an additional 4,015 shares in the last quarter. Partners Group Holding AG grew its stake in Equinix by 10.6% during the 1st quarter. Partners Group Holding AG now owns 51,787 shares of the financial services provider’s stock valued at $42,225,000 after purchasing an additional 4,968 shares in the last quarter. Finally, Focus Partners Wealth grew its stake in Equinix by 19.4% in the first quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EQIX. TD Cowen upped their target price on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Morgan Stanley started coverage on shares of Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target on the stock in a report on Wednesday. Finally, Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $961.33.

Equinix Company Profile

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.