Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Director Sells $114,026.25 in Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Equinix Price Performance

NASDAQ EQIX opened at $919.68 on Friday. The firm’s 50 day moving average is $931.27 and its 200-day moving average is $901.04. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company 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. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last issued 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%. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced 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 represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 199.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Creative Planning grew its stake in shares of Equinix by 16.7% in the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after buying an additional 1,111 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Equinix by 12.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the financial services provider’s stock valued at $41,327,000 after acquiring an additional 5,189 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Equinix by 8.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 60 shares during the period. Kessler Investment Group LLC increased its stake in shares of Equinix by 15.7% during the 3rd quarter. Kessler Investment Group LLC now owns 6,862 shares of the financial services provider’s stock worth $6,091,000 after purchasing an additional 931 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings 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 during the period. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on EQIX shares. Truist Financial lifted their price objective 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. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Scotiabank dropped their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Three investment 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $994.82.

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.