Equinix, Inc. (NASDAQ:EQIX) Chairman Sells $5,265,980.28 in Stock

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Equinix Stock Performance

Shares of EQIX traded down $4.30 during trading hours on Friday, hitting $915.59. The company’s stock had a trading volume of 566,147 shares, compared to its average volume of 492,928. The company has a market cap of $88.35 billion, a price-to-earnings ratio of 82.56, a PEG ratio of 2.12 and a beta of 0.73. 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 business has a 50 day simple moving average of $941.75 and a two-hundred day simple moving average of $874.79. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EQIX shares. Truist Financial upped their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their target price on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Institutional Investors Weigh In On Equinix

Institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position 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 buying an additional 33,277 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Equinix by 5.0% during the third 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 acquiring an additional 53,729 shares in the last quarter. Hedge funds and other 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.