Insider Selling: Equinix, Inc. (NASDAQ:EQIX) CEO Sells 1,370 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Adaire Fox-Martin also recently made the following trade(s):

• On Tuesday, December 3rd, Adaire Fox-Martin sold 2,965 shares of Equinix stock. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30.

Equinix Stock Performance

NASDAQ EQIX opened at $915.59 on Monday. The company’s fifty day moving average is $941.64 and its two-hundred day moving average is $876.70. The firm has a market capitalization of $88.34 billion, a price-to-earnings ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Announces Dividend

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

Institutional Trading of Equinix

Several institutional investors have recently modified their holdings of EQIX. Verde Capital Management raised its stake in shares of Equinix by 11.1% in the 4th quarter. Verde Capital Management now owns 2,191 shares of the financial services provider’s stock valued at $2,065,000 after buying an additional 219 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in Equinix by 3.6% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 5,947 shares of the financial services provider’s stock worth $5,608,000 after purchasing an additional 205 shares in the last quarter. Mutual Advisors LLC raised its position in Equinix by 14.5% in the fourth quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 100 shares in the last quarter. Wendell David Associates Inc. lifted its stake in Equinix by 38.9% during the fourth quarter. Wendell David Associates Inc. now owns 4,101 shares of the financial services provider’s stock worth $3,867,000 after purchasing an additional 1,149 shares during the period. Finally, Phillips Wealth Planners LLC grew its stake in shares of Equinix by 18.3% in the 4th quarter. Phillips Wealth Planners LLC now owns 725 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EQIX. HSBC raised Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company raised their price target on shares of Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

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.