Jonathan Lin Sells 93 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Equinix Price Performance

Shares of EQIX stock opened at $817.96 on Friday. The firm’s 50 day moving average price is $800.75 and its two-hundred day moving average price is $794.48. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The stock has a market cap of $77.63 billion, a PE ratio of 82.04, a PEG ratio of 2.03 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $8.04 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.08%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Institutional Trading of Equinix

Hedge funds have recently modified their holdings of the company. Goelzer Investment Management Inc. increased its stake in Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 13 shares in the last quarter. Cypress Capital Group grew its holdings in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after buying an additional 13 shares during the period. MRA Advisory Group increased its position in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after buying an additional 13 shares in the last quarter. Lindbrook Capital LLC raised its stake in Equinix by 3.0% during the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after buying an additional 14 shares during the period. Finally, Banco Santander S.A. lifted its holdings in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on EQIX shares. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $876.71.

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.