Equinix, Inc. (NASDAQ:EQIX) Insider Kurt Pletcher Sells 341 Shares

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, December 3rd, Kurt Pletcher sold 222 shares of Equinix stock. The stock was sold at an average price of $962.20, for a total value of $213,608.40.

Equinix Stock Performance

EQIX stock traded down $4.30 during trading on Friday, hitting $915.59. 566,147 shares of the company traded hands, compared to its average volume of 492,928. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a market cap of $88.35 billion, a PE ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73. The stock’s 50-day simple moving average is $941.75 and its 200 day simple moving average is $874.79. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Institutional Trading of Equinix

Hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% in the third 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 in the last quarter. Fortitude Family Office LLC grew its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC increased its stake in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares in the last quarter. Dunhill Financial LLC raised its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Webster Bank N. A. boosted its position in Equinix by 112.5% during the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, BMO Capital Markets boosted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

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.