Equinix, Inc. (NASDAQ:EQIX) Chairman Sells $3,309,240.48 in Stock

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 3,562 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares in the company, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Equinix Price Performance

Equinix stock traded up $1.51 during midday trading on Thursday, reaching $940.59. The company’s stock had a trading volume of 275,366 shares, compared to its average volume of 500,881. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two 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. The stock’s 50 day simple moving average is $932.87 and its 200 day simple moving average is $899.70. The firm has a market capitalization of $91.55 billion, a PE ratio of 110.01, a P/E/G ratio of 2.28 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 199.30%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQIX. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $994.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after buying an additional 88,654 shares in the last quarter. State Street Corp increased its position in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock valued at $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC increased its position in Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after purchasing an additional 81,144 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.