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

Shares of Equinix, Inc. (NASDAQ:EQIX) fell 0.1% during 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. 44,488 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 530,259 shares. The stock had previously closed at $963.65.

Specifically, CFO Keith D. Taylor sold 1,500 shares of the company’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 completion of the sale, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares of the company’s stock, 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 related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

EQIX has been the subject of several analyst reports. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $962.56.

Equinix Price Performance

The stock has a market cap of $93.96 billion, a P/E ratio of 87.81, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50-day moving average price of $909.18 and a 200-day moving average price of $837.52.

Equinix Announces Dividend

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

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Equinix by 1.4% during 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 acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Equinix by 5.0% during the 3rd 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 purchasing an additional 53,729 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

About Equinix

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.