Equinix (NASDAQ:EQIX) Insider Kurt Pletcher Sells 290 Shares

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 290 shares of Equinix stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total value of $212,045.10. Following the completion of the transaction, the insider directly owned 2,433 shares in the company, valued at $1,778,985.27. This represents a 10.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Equinix Stock Up 0.7%

EQIX stock traded up $5.34 during midday trading on Wednesday, reaching $732.72. The company had a trading volume of 953,144 shares, compared to its average volume of 585,858. The company has a 50 day moving average of $796.29 and a two-hundred day moving average of $807.14. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $989.84. The company has a market capitalization of $71.95 billion, a P/E ratio of 67.10, a PEG ratio of 1.49 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

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, beating analysts’ consensus estimates of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $9.05 EPS. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. On average, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be given a $4.69 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.6%. Equinix’s dividend payout ratio (DPR) is currently 171.79%.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Barclays lifted their target price on shares of Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Equinix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley started coverage on Equinix in a report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective on the stock. Truist Financial boosted their price objective on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Cowen restated a “buy” rating on shares of Equinix in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $961.33.

Institutional Investors Weigh In On Equinix

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock worth $10,410,575,000 after acquiring an additional 162,638 shares during the period. Valeo Financial Advisors LLC lifted its position in Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after purchasing an additional 8,154,365 shares during the period. State Street Corp lifted its holdings in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after acquiring an additional 220,981 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after buying an additional 56,592 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

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.