Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers Sells 3,562 Shares

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 3,562 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the transaction, the chairman now directly owns 15,513 shares of the company’s stock, valued at $14,412,197.52. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Equinix Stock Up 0.2 %

Shares of NASDAQ EQIX opened at $940.59 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day simple moving average of $932.17 and a two-hundred day simple moving average of $899.99. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a market cap of $91.55 billion, a P/E ratio of 110.01, a PEG ratio of 2.28 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 1.99%. Equinix’s dividend payout ratio (DPR) is presently 199.30%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Scotiabank cut their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $994.82.

Hedge Funds Weigh In On Equinix

Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake in Equinix by 80.6% in the fourth quarter. Mackenzie Financial Corp now owns 57,248 shares of the financial services provider’s stock worth $53,979,000 after purchasing an additional 25,556 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Equinix by 8.4% in the 4th quarter. Toronto Dominion Bank now owns 51,495 shares of the financial services provider’s stock worth $48,554,000 after buying an additional 3,975 shares during the period. North Star Asset Management Inc. bought a new position in shares of Equinix during the 4th quarter worth $273,000. GF Fund Management CO. LTD. bought a new position in shares of Equinix during the 4th quarter worth $1,626,000. Finally, Pinney & Scofield Inc. purchased a new position in shares of Equinix during the fourth quarter valued at $28,000. 94.94% of the stock is currently owned by institutional investors.

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.