Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Insider Sells $490,038.00 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Michael Earl Campbell sold 600 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $816.73, for a total transaction of $490,038.00. Following the transaction, the insider now directly owns 14,800 shares in the company, valued at approximately $12,087,604. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Equinix Trading Up 0.3 %

Shares of EQIX opened at $867.70 on Thursday. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The stock’s 50-day moving average is $806.73 and its two-hundred day moving average is $793.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $82.35 billion, a PE ratio of 87.03, a P/E/G ratio of 1.99 and a beta of 0.71.

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). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm posted $8.04 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Royal Bank of Canada reduced their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, TD Cowen lifted their price target on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $876.71.

Hedge Funds Weigh In On Equinix

Institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in Equinix by 18.9% in the fourth quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 140 shares during the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of Equinix in the 4th quarter valued at approximately $581,000. Principal Securities Inc. purchased a new position in shares of Equinix during the 4th quarter valued at approximately $344,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Equinix by 442.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 510 shares of the financial services provider’s stock worth $411,000 after buying an additional 416 shares in the last quarter. Finally, Dana Investment Advisors Inc. bought a new stake in shares of Equinix in the fourth quarter worth $207,000. 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.