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

Equinix, Inc. (NASDAQ:EQIX) insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were 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 owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 Down 0.5 %

EQIX stock opened at $915.59 on Friday. The firm has a 50-day moving average price of $941.64 and a 200-day moving average price of $875.87. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. 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 stock has a market capitalization of $88.35 billion, a P/E ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC raised its position in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank lifted their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, BMO Capital Markets increased their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target 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.