Equinix, Inc. (NASDAQ:EQIX) Insider Sells $111,467.90 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. This represents a 6.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 18th, Kurt Pletcher sold 215 shares of Equinix stock. The stock was sold at an average price of $929.73, for a total value of $199,891.95.

Equinix Price Performance

Shares of Equinix stock opened at $864.39 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a fifty day moving average of $825.01 and a 200-day moving average of $894.11. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 101.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the firm earned $8.86 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.17%. Equinix’s dividend payout ratio is currently 195.01%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Pinney & Scofield Inc. bought a new position in shares of Equinix during the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter worth about $31,000. Pacific Center for Financial Services increased its stake in shares of Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EQIX shares. BMO Capital Markets dropped their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Barclays increased their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Stifel Nicolaus boosted their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Cowen reissued a “buy” rating on shares of Equinix in a report on Thursday, May 1st. Finally, New Street Research raised shares of Equinix to a “strong-buy” rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $1,005.11.

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.