Equinix, Inc. (NASDAQ:EQIX) Insider Sells $643,308.84 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Equinix Trading Down 2.2 %

Shares of Equinix stock opened at $919.68 on Friday. The firm has a market capitalization of $89.51 billion, a PE ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. 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 company’s fifty day moving average price is $931.27 and its two-hundred day moving average price is $901.04. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 199.30%.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Creative Planning boosted its stake in shares of Equinix by 16.7% in the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Equinix by 21.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock valued at $1,798,000 after purchasing an additional 354 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Equinix by 6.0% in the 3rd quarter. Signaturefd LLC now owns 1,357 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 77 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Equinix by 37.3% in the 3rd quarter. Private Advisor Group LLC now owns 2,992 shares of the financial services provider’s stock valued at $2,656,000 after purchasing an additional 813 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Equinix by 10.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,468 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EQIX. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Scotiabank dropped their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $994.82.

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.