Kurt Pletcher Sells 215 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now owns 1,245 shares of the company’s stock, valued at $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 16th, Kurt Pletcher sold 341 shares of Equinix stock. The stock was sold at an average price of $903.72, for a total value of $308,168.52.
• On Tuesday, December 3rd, Kurt Pletcher sold 222 shares of Equinix stock. The stock was sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Price Performance

Shares of EQIX opened at $919.68 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a market cap of $89.51 billion, a P/E ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The stock’s 50-day moving average price is $931.27 and its two-hundred day moving average price is $901.85.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

Analyst Ratings Changes

Several analysts have recently commented on EQIX shares. Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $994.82.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Inspire Trust Co. N.A. raised its position in shares of Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC raised its position in shares of Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 11 shares during the period. Legacy Financial Advisors Inc. raised its position in shares of Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 11 shares during the period. GS Investments Inc. raised its position in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after purchasing an additional 12 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 12 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.