Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Insider Sells 222 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares in the company, valued at $976,633. This represents a 17.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Equinix Stock Up 0.8 %

Shares of NASDAQ EQIX opened at $973.80 on Friday. The stock has a market cap of $93.96 billion, a PE ratio of 87.81, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The business has a 50-day moving average price of $909.18 and a 200 day moving average price of $837.52.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.75%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets upped their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $962.56.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas purchased a new stake in Equinix during the 3rd quarter valued at approximately $2,483,000. Inspire Trust Co. N.A. raised its stake in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 11 shares during the last quarter. Tidal Investments LLC raised its stake in Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock valued at $22,880,000 after acquiring an additional 2,940 shares during the last quarter. Cim Investment Management Inc. raised its stake in Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after acquiring an additional 879 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Equinix during the 3rd quarter valued at approximately $582,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.