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A company insider recently sold 2,800 shares of Equinix Inc [EQIX]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Equinix Inc shares valued at $2,243,662 were sold by MORANDI BRANDI GALVIN on May 17 ’24. At $801.31 per share, MORANDI BRANDI GALVIN sold 2,800 shares. The insider’s holdings dropped to 9,958 shares worth approximately $7.47 million following the completion of this transaction.

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Also, MORANDI BRANDI GALVIN sold 2,070 shares, netting a total of over 1,657,026 in proceeds. Following the sale of shares at $800.50 each, the insider now holds 12,758 shares.

Before that, PAISLEY CHRISTOPHER B had sold 100 shares from its account. In a trade valued at $81,298, the Director traded Equinix Inc shares for $812.98 each. Upon closing the transaction, the insider’s holdings decreased to 100 shares, worth approximately $13.23 million.

As published in their initiating research note from Goldman on July 01, 2024, Equinix Inc [EQIX] has been a Buy and the price target has been revised to $870. Analysts at HSBC Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid March. As of January 16, 2024, Truist has increased its “Hold” rating to a “Buy” for EQIX. Earlier on January 02, 2024, Wolfe Research upgraded its rating. Their new recommendation was “a Peer perform” for EQIX stock which previously was a “an Underperform”.

Analyzing EQIX Stock Performance

During the last five days, there has been a surge of approximately 1.10%. Over the course of the year, Equinix Inc shares have dropped approximately -6.88%. Shares of the company reached a 52-week high of $914.93 on 03/04/24 and a 52-week low of $684.14 on 05/08/24. A 50-day SMA is recorded $755.26, while a 200-day SMA reached $785.54. Nevertheless, trading volume fell to 0.24 million shares from 0.39 million shares the previous day.

Support And Resistance Levels for Equinix Inc (EQIX)

According to the 24-hour chart, there is a support level at 744.73, which, if violated, would cause prices to drop to 740.47. In the upper region, resistance lies at 756.20. The next price resistance is at 763.41. RSI (Relative Strength Index) is 44.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.71, which suggests the price will decrease in the coming days. Percent R is at 65.89%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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