Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Chairman Sells 5,788 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $915.59 on Monday. The firm has a 50-day simple moving average of $941.64 and a 200-day simple moving average of $876.70. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $88.34 billion, a price-to-earnings ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its position in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after buying an additional 81,941 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. boosted its position in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after acquiring an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinix by 17.9% in the third 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. Finally, Charles Schwab Investment Management Inc. increased its position in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EQIX shares. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $976.81.

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.