Equinix, Inc. (NASDAQ:EQIX) Director Sells $86,941.00 in Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Equinix Price Performance

Equinix stock opened at $859.14 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $84.04 billion, a P/E ratio of 100.48, a PEG ratio of 1.78 and a beta of 0.97. The business has a 50-day moving average of $827.18 and a 200-day moving average of $892.21. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm earned $8.86 EPS. Equinix’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is 195.01%.

Institutional Trading of Equinix

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. Brookstone Capital Management bought a new position in Equinix in the fourth quarter valued at approximately $223,000. Park Avenue Securities LLC boosted its holdings in shares of Equinix by 10.3% in the fourth quarter. Park Avenue Securities LLC now owns 1,898 shares of the financial services provider’s stock valued at $1,790,000 after buying an additional 178 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Equinix by 20.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,607 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 271 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Mizuho cut their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Scotiabank cut their price target on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 22nd. Truist Financial decreased their price objective on shares of Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, Stifel Nicolaus upped their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $1,004.65.

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.