Equinix (NASDAQ:EQIX) Shares Down 0.1% Following Insider Selling

Equinix, Inc. (NASDAQ:EQIX) dropped 0.1% on Wednesday after an insider sold shares in the company. The stock traded as low as $959.00 and last traded at $962.73. Approximately 44,488 shares traded hands during trading, a decline of 92% from the average daily volume of 530,259 shares. The stock had previously closed at $963.65.

Specifically, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the insider now owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value 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 $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. 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 report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Five 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $962.56.

Equinix Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average of $905.77 and a two-hundred day moving average of $835.66. The company has a market capitalization of $92.95 billion, a PE ratio of 86.81, a PEG ratio of 2.48 and a beta of 0.72.

Equinix Announces Dividend

The company 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 $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is 153.65%.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in shares of Equinix during the third quarter valued at about $2,483,000. Inspire Trust Co. N.A. raised its position 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 purchasing an additional 11 shares during the last quarter. Tidal Investments LLC lifted its holdings in Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after buying an additional 2,940 shares during the period. Cim Investment Management Inc. grew its position in shares of Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after buying an additional 879 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Equinix during the third quarter valued at approximately $582,000. 94.94% of the stock is currently owned by 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.