Kurt Pletcher Sells 222 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Equinix Price Performance

EQIX traded down $1.19 on Tuesday, hitting $963.65. 386,928 shares of the stock were exchanged, compared to its average volume of 532,407. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market capitalization of $92.98 billion, a price-to-earnings ratio of 86.89, a PEG ratio of 2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day moving average of $902.59 and a two-hundred day moving average of $833.34.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. Equinix’s payout ratio is currently 153.65%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cetera Investment Advisers increased its position in Equinix by 220.6% in the first quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock worth $6,699,000 after buying an additional 5,586 shares during the last quarter. Cetera Advisors LLC lifted its stake in Equinix by 69.0% during the first quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 838 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the 2nd quarter valued at $30,000. Mather Group LLC. grew its stake in shares of Equinix by 3.5% during the second quarter. Mather Group LLC. now owns 1,251 shares of the financial services provider’s stock valued at $1,032,000 after buying an additional 42 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Equinix by 42.0% in the second quarter. Kingswood Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 269 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group lifted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. TD Cowen increased their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $962.56.

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.