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

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 198 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the sale, the insider directly owned 3,879 shares in the company, valued at $3,934,004.22. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 EQIX stock opened at $1,050.00 on Wednesday. The firm has a market capitalization of $103.60 billion, a price-to-earnings ratio of 63.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day moving average of $1,016.98 and a 200 day moving average of $1,015.90. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 EPS. As a group, research analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Dividend Announcement

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

Analysts Set New Price Targets

EQIX has been the topic of several research reports. UBS Group increased their price target on shares of Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce started coverage on shares of Equinix in a research note on Tuesday, October 20th. They set an “outperform” rating and a $1,200.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen upped their price objective on shares of Equinix from $1,166.00 to $1,210.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Equinix in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $1,234.13.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in shares of Equinix by 63.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,977 shares of the financial services provider’s stock worth $4,023,000 after purchasing an additional 1,549 shares during the period. Focus Advisor Solutions LLC lifted its stake in shares of Equinix by 94.1% in the 3rd quarter. Focus Advisor Solutions LLC now owns 2,546 shares of the financial services provider’s stock valued at $2,576,000 after purchasing an additional 1,234 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Equinix by 9.2% in the 3rd quarter. Checchi Capital Advisers LLC now owns 1,222 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 103 shares during the period. OneAscent Family Office LLC purchased a new stake in Equinix during the third quarter worth $223,000. Finally, Composition Wealth LLC boosted its holdings in Equinix by 0.9% during the third quarter. Composition Wealth LLC now owns 12,746 shares of the financial services provider’s stock worth $12,894,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.