Kurt Pletcher Sells 596 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 596 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $477,860.88. Following the completion of the sale, the insider owned 3,195 shares of the company’s stock, valued at $2,561,687.10. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 2nd, Kurt Pletcher sold 290 shares of Equinix stock. The shares were sold at an average price of $731.19, for a total transaction of $212,045.10.

Equinix Price Performance

EQIX traded down $17.58 during trading on Tuesday, reaching $784.20. The company’s stock had a trading volume of 496,784 shares, compared to its average volume of 538,161. 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 firm has a fifty day simple moving average of $765.68 and a two-hundred day simple moving average of $782.56. The company has a market cap of $77.00 billion, a price-to-earnings ratio of 71.81, a PEG ratio of 1.25 and a beta of 1.05. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is currently 171.79%.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of analyst reports. Barclays reissued a “positive” rating and set a $870.00 price objective on shares of Equinix in a research report on Tuesday, January 13th. Truist Financial increased their price target on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research report on Thursday, December 18th. HSBC set a $1,050.00 price target on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $959.64.

Hedge Funds Weigh In On Equinix

Hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC increased its position 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 valued at $305,000 after buying an additional 67 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after purchasing an additional 7,409 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Equinix by 13.5% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock worth $386,231,000 after purchasing an additional 57,630 shares in the last quarter. Nordea Investment Management AB lifted its stake in Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after buying an additional 32,790 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in shares of Equinix by 5,346.3% in the second quarter. Hudson Bay Capital Management LP now owns 14,705 shares of the financial services provider’s stock valued at $11,697,000 after acquiring an additional 14,435 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.