Insider Selling: Equinix, Inc. (NASDAQ:EQIX) CFO Sells $1,456,770.00 in Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Equinix Stock Up 0.8 %

Shares of EQIX stock opened at $973.80 on Friday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business’s fifty day moving average is $909.18 and its 200-day moving average is $837.52. The stock has a market cap of $93.96 billion, a PE ratio of 87.81, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. BMO Capital Markets boosted their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $962.56.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently bought and sold shares of EQIX. Inspire Trust Co. N.A. grew its stake in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the last quarter. GS Investments Inc. grew its position in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares during the last quarter. Cypress Capital Group increased its holdings in shares of Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after buying an additional 13 shares in the last quarter. MRA Advisory Group lifted its position in shares of Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.