Christopher Paisley Sells 4,000 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher Paisley sold 4,000 shares of Equinix stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the completion of the sale, the director directly owned 13,859 shares of the company’s stock, valued at approximately $14,126,201.52. The trade was a 22.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Equinix Trading Up 1.9%

Shares of NASDAQ:EQIX opened at $1,051.53 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a market cap of $103.75 billion, a P/E ratio of 67.71, a PEG ratio of 2.02 and a beta of 0.99. The stock’s fifty day moving average price is $1,051.80 and its 200-day moving average price is $999.88.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix’s dividend payout ratio is currently 132.90%.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Equinix by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after buying an additional 107,227 shares during the period. Cohen & Steers Inc. grew its stake in shares of Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares during the period. Geode Capital Management LLC increased its holdings in Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after acquiring an additional 25,383 shares in the last quarter. Principal Financial Group Inc. raised its stake in Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after acquiring an additional 27,643 shares during the period. Finally, Northern Trust Corp raised its stake in Equinix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider’s stock worth $1,149,628,000 after acquiring an additional 9,614 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQIX. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Citigroup restated a “market outperform” rating on shares of Equinix in a report on Tuesday. TD Cowen lifted their target price on shares of Equinix from $1,143.00 to $1,166.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Oppenheimer reiterated an “outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada cut Equinix from an “outperform” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,195.00.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.