Brandi Galvin Morandi Sells 1,726 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now owns 6,505 shares of the company’s stock, valued at $5,886,959.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Brandi Galvin Morandi also recently made the following trade(s):

• On Friday, October 25th, Brandi Galvin Morandi sold 863 shares of Equinix stock. The shares were sold at an average price of $915.00, for a total value of $789,645.00.
• On Tuesday, September 10th, Brandi Galvin Morandi sold 864 shares of Equinix stock. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00.

Equinix Stock Performance

NASDAQ:EQIX opened at $890.82 on Thursday. The business’s fifty day moving average price is $874.46 and its 200 day moving average price is $809.55. The firm has a market capitalization of $85.96 billion, a PE ratio of 80.33, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.04 EPS. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norden Group LLC acquired a new stake in shares of Equinix during the first quarter worth about $216,000. Private Advisor Group LLC increased its position in Equinix by 5.6% during the first quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock worth $769,000 after buying an additional 49 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Equinix by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock valued at $8,102,000 after acquiring an additional 414 shares during the period. Jennison Associates LLC grew its position in shares of Equinix by 88.9% during the first quarter. Jennison Associates LLC now owns 56,563 shares of the financial services provider’s stock worth $46,683,000 after acquiring an additional 26,612 shares during the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Equinix by 2.3% in the 1st quarter. Whittier Trust Co. now owns 1,144 shares of the financial services provider’s stock valued at $944,000 after acquiring an additional 26 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EQIX has been the subject of a number of recent analyst reports. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Barclays boosted their target price on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Truist Financial boosted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.