Kurt Pletcher Sells 215 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company’s stock, valued at $1,157,513.85. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, January 16th, Kurt Pletcher sold 341 shares of Equinix stock. The stock was sold at an average price of $903.72, for a total value of $308,168.52.
• On Tuesday, December 3rd, Kurt Pletcher sold 222 shares of Equinix stock. The shares were sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Stock Up 0.2 %

Shares of EQIX traded up $1.51 during midday trading on Thursday, reaching $940.59. 275,366 shares of the company were exchanged, compared to its average volume of 500,881. The stock has a 50-day moving average price of $932.87 and a 200-day moving average price of $899.70. The company has a market cap of $91.55 billion, a price-to-earnings ratio of 110.01, a P/E/G ratio of 2.28 and a beta of 0.72. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 1.99%. Equinix’s payout ratio is 199.30%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Inspire Trust Co. N.A. lifted its stake in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 11 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 11 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 12 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent analyst reports. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Oppenheimer lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank lowered their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of “Buy” and an average target price of $994.82.

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.