Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel Sells 1,022 Shares

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Equinix Price Performance

Shares of EQIX traded down $10.48 during mid-day trading on Tuesday, reaching $903.02. 809,141 shares of the company’s stock were exchanged, compared to its average volume of 528,593. The company has a market cap of $87.13 billion, a price-to-earnings ratio of 82.37, a PEG ratio of 2.31 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a 50-day simple moving average of $879.56 and a two-hundred day simple moving average of $813.36.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.89%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in Equinix by 29.4% during the 1st quarter. Empowered Funds LLC now owns 1,620 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 368 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Equinix during the 1st quarter valued at approximately $743,000. Concurrent Investment Advisors LLC increased its position in Equinix by 38.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 1,060 shares of the financial services provider’s stock valued at $874,000 after purchasing an additional 294 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Equinix by 370.0% during the 1st quarter. QRG Capital Management Inc. now owns 4,700 shares of the financial services provider’s stock worth $3,879,000 after buying an additional 3,700 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Equinix by 1.5% during the 1st quarter. Bleakley Financial Group LLC now owns 3,513 shares of the financial services provider’s stock worth $2,899,000 after buying an additional 51 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EQIX shares. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.