Equinix, Inc. (NASDAQ:EQIX) Insider Kurt Pletcher Sells 222 Shares

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

Equinix Stock Performance

EQIX stock opened at $963.65 on Wednesday. The stock has a market capitalization of $92.98 billion, a PE ratio of 86.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. The stock’s 50 day simple moving average is $905.77 and its 200 day simple moving average is $835.66. 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 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. Equinix’s payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EQIX shares. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Truist Financial upped their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Mizuho raised their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $962.56.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC boosted its position in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. increased its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares in the last quarter. 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.