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 stock was sold at an average price of $801.78, for a total transaction of $477,860.88. Following the transaction, the insider owned 3,195 shares in the company, valued at approximately $2,561,687.10. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

Equinix Stock Down 2.2%

NASDAQ EQIX traded down $17.58 during midday trading on Tuesday, hitting $784.20. 496,784 shares of the company traded hands, compared to its average volume of 538,161. The company has a market cap of $77.00 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $953.41. The company’s 50-day simple moving average is $765.68 and its 200-day simple moving average is $782.56.

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

Equinix Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Westside Investment Management Inc. lifted its holdings in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares in the last quarter. Ameriflex Group Inc. boosted its holdings in Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Equinix during the 2nd quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its position in shares of Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Finally, Abound Wealth Management boosted its stake in shares of Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on EQIX shares. Scotiabank cut their price target on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research note on Tuesday, January 6th. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Truist Financial raised their price objective on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Finally, TD Cowen lifted their target price on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $959.64.

Equinix Company Profile

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.