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

Equinix, Inc. (NASDAQ:EQIX) shares were down 0.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $959.00 and last traded at $962.73. Approximately 44,488 shares were traded 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 firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the 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 completion of the sale, the insider now directly owns 1,015 shares of the company’s stock, valued at $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 news, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several research firms recently weighed in on EQIX. Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. BMO Capital Markets increased their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Five 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $962.56.

Equinix Stock Performance

The business’s fifty day moving average price is $909.18 and its 200-day moving average price is $837.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $93.96 billion, a PE ratio of 87.81, a P/E/G ratio of 2.48 and a beta of 0.72.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.75%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Institutional Investors Weigh In On Equinix

Large investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC grew its holdings in shares of Equinix by 8.5% during the second quarter. Park Avenue Securities LLC now owns 2,045 shares of the financial services provider’s stock worth $1,547,000 after purchasing an additional 161 shares in the last quarter. CWM LLC raised its position in shares of Equinix by 12.2% during the 2nd quarter. CWM LLC now owns 1,612 shares of the financial services provider’s stock valued at $1,220,000 after buying an additional 175 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Equinix by 26.6% during the 2nd quarter. CHICAGO TRUST Co NA now owns 367 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 77 shares during the last quarter. QRG Capital Management Inc. grew its position in Equinix by 4.0% in the second quarter. QRG Capital Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $3,699,000 after acquiring an additional 189 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Equinix in the second quarter valued at $142,000. Institutional investors own 94.94% of the company’s stock.

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.