Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Director Sells 50 Shares of Stock

Equinix, Inc. (NASDAQ:EQIXGet Rating) Director Christopher B. Paisley sold 50 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total value of $32,595.50. Following the sale, the director now owns 17,563 shares in the company, valued at $11,449,495.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ EQIX opened at $635.09 on Friday. The stock has a market cap of $57.80 billion, a PE ratio of 117.18, a PEG ratio of 3.01 and a beta of 0.46. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.91 and a current ratio of 1.91. Equinix, Inc. has a twelve month low of $621.34 and a twelve month high of $885.26. The firm has a 50-day simple moving average of $718.32 and a 200 day simple moving average of $745.77.

Equinix (NASDAQ:EQIXGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $6.46 by ($4.84). Equinix had a net margin of 7.25% and a return on equity of 4.57%. During the same quarter last year, the business posted $6.98 earnings per share. Research analysts forecast that Equinix, Inc. will post 25.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, May 18th will be given a $3.10 dividend. The ex-dividend date is Tuesday, May 17th. This represents a $12.40 annualized dividend and a yield of 1.95%. Equinix’s dividend payout ratio is currently 228.78%.

A number of large investors have recently modified their holdings of EQIX. Camden National Bank increased its stake in shares of Equinix by 1,519.0% during the 4th quarter. Camden National Bank now owns 6,395 shares of the financial services provider’s stock worth $4,567,000 after purchasing an additional 6,000 shares during the last quarter. Morgan Stanley increased its stake in shares of Equinix by 42.4% during the 2nd quarter. Morgan Stanley now owns 634,960 shares of the financial services provider’s stock worth $509,619,000 after purchasing an additional 189,179 shares during the last quarter. Creative Planning increased its stake in shares of Equinix by 12.0% during the 3rd quarter. Creative Planning now owns 2,332 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 249 shares during the last quarter. BOKF NA acquired a new position in shares of Equinix during the 3rd quarter worth about $873,000. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Equinix by 4.5% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 17,115 shares of the financial services provider’s stock worth $13,523,000 after purchasing an additional 743 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

EQIX has been the topic of several recent research reports. BMO Capital Markets increased their target price on Equinix from $810.00 to $830.00 and gave the company a “market perform” rating in a research report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $780.00 to $785.00 and gave the company a “buy” rating in a research note on Friday, April 8th. Barclays dropped their target price on Equinix from $829.00 to $815.00 in a research report on Thursday, February 17th. TD Securities upgraded Equinix from a “hold” rating to a “buy” rating and lowered their target price for the stock from $900.00 to $850.00 in a report on Thursday, February 17th. Finally, Credit Suisse Group boosted their target price on Equinix from $673.00 to $714.00 and gave the company a “neutral” rating in a research report on Monday, April 25th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $852.59.

About Equinix (Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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