Kurt Pletcher Sells 135 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the completion of the transaction, the insider directly owned 4,077 shares in the company, valued at approximately $4,384,813.50. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Equinix Trading Down 1.6%

Shares of Equinix stock opened at $1,065.39 on Friday. The firm has a market cap of $105.12 billion, a PE ratio of 68.60, a P/E/G ratio of 1.54 and a beta of 0.99. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day moving average price of $1,052.66 and a 200-day moving average price of $1,022.48.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share for the quarter, topping analysts’ consensus estimates of $4.73 by $7.05. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equinix had a net margin of 15.64% and a return on equity of 10.76%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. Equities research analysts anticipate that Equinix, Inc. will post 38.23 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th. Equinix’s payout ratio is presently 132.90%.

Institutional Investors Weigh In On Equinix

Institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC grew its position in shares of Equinix by 166.7% in the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 15 shares in the last quarter. Avion Wealth lifted its holdings in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 11 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in Equinix by 266.7% in the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 24 shares during the period. Trust Co. of Vermont bought a new position in Equinix in the 2nd quarter worth about $34,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Equinix during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EQIX. Oppenheimer restated an “outperform” rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, April 30th. HSBC reissued a “buy” rating and set a $1,400.00 price objective on shares of Equinix in a report on Friday, August 14th. Zacks Research downgraded Equinix from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Mizuho boosted their target price on Equinix from $1,165.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Truist Financial upped their price target on Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,203.40.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.