Equinix (NASDAQ:EQIX) Insider Brandi Galvin Morandi Sells 424 Shares

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 424 shares of Equinix stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $1,020.00, for a total transaction of $432,480.00. Following the completion of the transaction, the insider owned 9,970 shares in the company, valued at approximately $10,169,400. The trade was a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, March 12th, Brandi Galvin Morandi sold 630 shares of Equinix stock. The stock was sold at an average price of $961.19, for a total transaction of $605,549.70.
• On Friday, January 16th, Brandi Galvin Morandi sold 1,333 shares of Equinix stock. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25.

Equinix Trading Up 1.4%

NASDAQ:EQIX traded up $13.91 during trading hours on Thursday, reaching $1,031.57. The company’s stock had a trading volume of 405,713 shares, compared to its average volume of 634,755. The firm has a market capitalization of $101.35 billion, a price-to-earnings ratio of 75.02, a PEG ratio of 2.57 and a beta of 1.01. The firm has a 50-day simple moving average of $939.19 and a 200-day simple moving average of $839.14. Equinix, Inc. has a 1 year low of $710.52 and a 1 year high of $1,039.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $7.92 EPS. Equinix’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were given a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s dividend payout ratio is presently 150.11%.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Purpose Unlimited Inc. purchased a new position in shares of Equinix during the fourth quarter valued at about $588,000. Hsbc Holdings PLC increased its position in shares of Equinix by 6.0% during the fourth quarter. Hsbc Holdings PLC now owns 444,635 shares of the financial services provider’s stock valued at $340,795,000 after buying an additional 25,259 shares during the period. Stance Capital LLC purchased a new position in shares of Equinix during the fourth quarter valued at about $1,415,000. Rockefeller Capital Management L.P. increased its position in shares of Equinix by 37.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 112,474 shares of the financial services provider’s stock valued at $86,174,000 after buying an additional 30,572 shares during the period. Finally, World Investment Advisors increased its position in shares of Equinix by 31.8% during the fourth quarter. World Investment Advisors now owns 842 shares of the financial services provider’s stock valued at $645,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of a number of analyst reports. TD Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. UBS Group boosted their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Wells Fargo & Company boosted their price objective on shares of Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Equinix in a research report on Thursday, February 12th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,025.96.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.