Insider Selling: Equinix, Inc. (NASDAQ:EQIX) EVP Sells 93 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Equinix Stock Down 0.7 %

EQIX stock opened at $821.74 on Friday. The firm has a market cap of $77.99 billion, a PE ratio of 82.42, a P/E/G ratio of 2.03 and a beta of 0.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s fifty day moving average is $799.52 and its 200 day moving average is $794.75. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.04 EPS. On average, research analysts forecast that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.07%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EQIX shares. Barclays increased their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. TD Cowen increased their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $876.71.

Institutional Trading of Equinix

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Cohen & Steers Inc. boosted its position in Equinix by 0.5% during the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Norges Bank acquired a new position in Equinix during the fourth quarter worth about $1,574,132,000. Principal Financial Group Inc. boosted its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.