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 business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the sale, the chairman now owns 15,513 shares in the company, valued at approximately $14,412,197.52. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Equinix Price Performance

Equinix stock opened at $919.68 on Friday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock’s 50 day moving average is $931.27 and its 200-day moving average is $901.85. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $89.51 billion, a price-to-earnings ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced 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. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. Equinix’s dividend payout ratio is presently 219.42%.

Analysts Set New Price Targets

A number of analysts recently issued reports on EQIX shares. BMO Capital Markets lowered their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Scotiabank lowered their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Oppenheimer lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus price target of $994.82.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Inspire Trust Co. N.A. boosted its stake in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 11 shares during the period. Rothschild Investment LLC boosted its stake in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after buying an additional 11 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after buying an additional 11 shares during the period. GS Investments Inc. boosted its stake in shares of Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after buying an additional 12 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.