Insider Selling: Equinix (NASDAQ:EQIX) Insider Sells $605,549.70 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 630 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $605,549.70. Following the completion of the sale, the insider directly owned 10,394 shares of the company’s stock, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Brandi Galvin Morandi also recently made the following trade(s):

• On Friday, January 16th, Brandi Galvin Morandi sold 1,333 shares of Equinix stock. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25.

Equinix Trading Down 0.2%

EQIX traded down $1.57 during trading hours on Friday, reaching $969.90. The company’s stock had a trading volume of 494,928 shares, compared to its average volume of 655,121. The stock has a market cap of $95.29 billion, a PE ratio of 70.54, a P/E/G ratio of 2.50 and a beta of 1.04. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The business’s 50-day moving average is $867.66 and its 200-day moving average is $812.35.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $7.92 EPS. Equinix’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix’s payout ratio is 150.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank restated an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Wells Fargo & Company boosted their target price on Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Truist Financial upped their price target on Equinix from $973.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group boosted their price objective on Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $1,006.91.

Hedge Funds Weigh In On Equinix

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Equinix by 0.8% during the 4th 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 last quarter. State Street Corp increased its holdings in shares of Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after acquiring an additional 220,981 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Equinix by 23.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after purchasing an additional 493,141 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Equinix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after purchasing an additional 25,383 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Equinix

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.