Equinix, Inc. (NASDAQ:EQIX) Insider Brandi Galvin Morandi Sells 684 Shares

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Equinix Stock Performance

EQIX stock traded down $20.57 during trading hours on Friday, reaching $919.68. The stock had a trading volume of 664,034 shares, compared to its average volume of 505,680. The stock has a market capitalization of $89.51 billion, a PE ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a 50-day simple moving average of $932.17 and a 200 day simple moving average of $899.99. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed 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 of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. Equinix’s dividend payout ratio is presently 199.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Truist Financial increased their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Oppenheimer increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and an average price target of $994.82.

Hedge Funds Weigh In On Equinix

Large investors have recently modified their holdings of the stock. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in shares of Equinix in the fourth quarter valued at about $31,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Pacific Center for Financial Services raised its position in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the period. 94.94% of the stock is owned by institutional investors.

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.