Equinix (NASDAQ:EQIX) Insider Kurt Pletcher Sells 198 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 198 shares of the company’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 completion of the sale, the insider directly owned 3,879 shares of the company’s stock, valued at $3,934,004.22. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,054.50 on Tuesday. The business’s 50-day simple moving average is $1,016.92 and its 200 day simple moving average is $1,014.61. The company has a market cap of $104.05 billion, a P/E ratio of 24.45, a PEG ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s payout ratio is presently 123.96%.

Institutional Trading of Equinix

Several institutional investors have recently added to or reduced their stakes in the business. White Pine Capital LLC acquired a new position in shares of Equinix in the 3rd quarter valued at about $3,252,000. Bessemer Group Inc. grew its position in shares of Equinix by 2.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,933 shares of the financial services provider’s stock valued at $2,968,000 after buying an additional 70 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Equinix by 2.2% during the third quarter. Hantz Financial Services Inc. now owns 617 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 13 shares during the period. Optas LLC raised its stake in Equinix by 6.1% during the third quarter. Optas LLC now owns 297 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 17 shares during the period. Finally, Phoenix Financial Ltd. raised its stake in Equinix by 8.9% during the third quarter. Phoenix Financial Ltd. now owns 1,335 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 109 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EQIX shares. Guggenheim reaffirmed a “buy” rating and set a $1,235.00 price target on shares of Equinix in a report on Tuesday, October 20th. Royal Bank Of Canada boosted their price objective on shares of Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Truist Financial upped their price objective on shares of Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Raymond James Financial restated a “strong-buy” rating and set a $1,250.00 target price on shares of Equinix in a research note on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Equinix in a research report 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,234.13.

About Equinix