Insider Selling: Equinix, Inc. (NASDAQ:EQIX) CFO Sells 2,454 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company’s stock, valued at $22,677,754.68. This represents a 9.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Equinix Stock Down 2.2 %

NASDAQ EQIX opened at $919.68 on Friday. The stock has a fifty day moving average of $931.27 and a 200-day moving average of $901.04. The stock has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 199.30%.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON boosted its position in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after purchasing an additional 404 shares during the last quarter. Finally, Thematics Asset Management boosted its position in shares of Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EQIX shares. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Scotiabank dropped their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Truist Financial increased their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus price target of $994.82.

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.