Insider Selling: Equinix (NASDAQ:EQIX) Insider Sells $200,807.64 in Stock

Key Points

• Equinix insider Kurt Pletcher sold 198 shares for $200,807.64 at an average price of $1,014.18, reducing his stake by 4.86%; he retained 3,879 shares.
• Equinix’s latest quarterly results beat EPS estimates ($4.93 versus $4.11) and revenue edged past expectations at $2.57 billion, up 11% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $1,234.13; Equinix also declared a $5.16 quarterly dividend per share.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) insider Kurt Pletcher sold 198 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the completion of the sale, the insider directly owned 3,879 shares in the company, valued at approximately $3,934,004.22. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, August 20th, Kurt Pletcher sold 135 shares of Equinix stock. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $41.79 during trading hours on Monday, hitting $1,054.50. The stock had a trading volume of 836,295 shares, compared to its average volume of 597,455. The stock's fifty day simple moving average is $1,016.72 and its 200 day simple moving average is $1,013.32. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The firm has a market capitalization of $104.05 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 1.42 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm posted $9.83 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix's dividend payout ratio is presently 123.96%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQIX. BlackRock Inc. acquired a new stake in Equinix in the 2nd quarter worth $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equinix by 26,831.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider's stock valued at $1,291,648,000 after buying an additional 1,234,521 shares during the period. Legal & General Group Plc bought a new stake in shares of Equinix in the second quarter valued at about $1,181,260,000. Canada Pension Plan Investment Board acquired a new stake in Equinix during the second quarter worth about $1,163,662,000. Finally, Deutsche Bank AG acquired a new stake in Equinix during the second quarter worth about $1,118,930,000. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of a number of recent analyst reports. BTIG Research lifted their price objective on shares of Equinix from $1,210.00 to $1,240.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. HSBC decreased their target price on shares of Equinix from $1,400.00 to $1,380.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Rothschild & Co Redburn initiated coverage on shares of Equinix in a research report on Monday, September 21st. They set a "buy" rating and a $1,261.00 price target on the stock. Weiss Ratings raised shares of Equinix from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 16th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $1,250.00 price objective on shares of Equinix in a report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Equinix has an average rating of "Moderate Buy" and a consensus price target of $1,234.13.

About Equinix

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