Equinix (NASDAQ:EQIX) Shares Down 0.4% After Insider Selling

Equinix, Inc. (NASDAQ:EQIX)’s share price was down 0.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $959.00 and last traded at $960.53. Approximately 75,377 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 531,004 shares. The stock had previously closed at $964.84.

Specifically, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. The trade was a 17.95 % decrease in their position. The disclosure for this sale can be found here. In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities analysts have weighed in on EQIX shares. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial lifted their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Five equities 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Trading Up 0.2 %

The company has a market capitalization of $93.17 billion, a price-to-earnings ratio of 87.07, a PEG ratio of 2.48 and a beta of 0.72. The company has a fifty day moving average of $907.28 and a 200-day moving average of $836.57. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC raised its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the second quarter worth $36,000. Sugarloaf Wealth Management LLC increased its position in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the period. Finally, Dunhill Financial LLC increased its position in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

About Equinix

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.