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 analyst expectations: EPS was $4.93 versus $4.11 forecast, while revenue rose 11% year over year to $2.57 billion.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $1,234.13. Equinix also announced a quarterly dividend of $5.16 per share, equivalent to a 2.0% yield.
Equinix, Inc. (NASDAQ:EQIX - Get Free Report) insider Kurt Pletcher sold 198 shares of the business's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total value of $200,807.64. Following the transaction, the insider owned 3,879 shares of the company's stock, valued at $3,934,004.22. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $1,075.50, for a total value of $145,192.50.
Equinix Price Performance
Shares of EQIX opened at $1,054.50 on Tuesday. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a market cap of $104.05 billion, a P/E ratio of 24.45, a PEG ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a fifty day moving average price of $1,016.92 and a 200 day moving average price of $1,014.61.
Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Equinix, Inc. will post 39.01 earnings per share for the current year.
Equinix Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix's payout ratio is presently 123.96%.
Analyst Ratings Changes
Several research firms recently commented on EQIX. Stifel Nicolaus raised their target price on Equinix from $1,250.00 to $1,265.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their target price on Equinix from $1,125.00 to $1,225.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. UBS Group increased their target price on shares of Equinix from $1,210.00 to $1,265.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Mizuho set a $1,275.00 price target on Equinix in a research note on Thursday, October 29th. Finally, Evercore restated an "outperform" rating and set a $1,270.00 target price (up from $1,240.00) on shares of Equinix in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $1,234.13.
Get Our Latest Research Report on Equinix
Institutional Trading of Equinix
Institutional investors have recently made changes to their positions in the business. White Pine Capital LLC acquired a new stake in Equinix during the third quarter valued at approximately $3,252,000. Bessemer Group Inc. grew its holdings in shares of Equinix by 2.4% during the third quarter. Bessemer Group Inc. now owns 2,933 shares of the financial services provider's stock worth $2,968,000 after purchasing an additional 70 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Equinix by 2.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 617 shares of the financial services provider's stock worth $624,000 after acquiring an additional 13 shares during the last quarter. Optas LLC increased its holdings in shares of Equinix by 6.1% in the third quarter. Optas LLC now owns 297 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 17 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its stake in shares of Equinix by 8.9% in the 3rd quarter. Phoenix Financial Ltd. now owns 1,335 shares of the financial services provider's stock valued at $1,351,000 after buying an additional 109 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.
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