Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Director Sells 125 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Equinix Stock Down 2.2 %

Shares of NASDAQ EQIX opened at $919.68 on Friday. The stock has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72. The stock’s fifty day moving average is $931.27 and its 200 day moving average is $901.04. Equinix, Inc. has a 52 week low of $684.14 and a 52 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.

Equinix (NASDAQ:EQIX) last released 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 net margin of 9.32% and a return on equity of 6.31%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. Equinix’s dividend payout ratio is presently 199.30%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EQIX shares. Oppenheimer raised their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. 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 note on Thursday, February 13th. Finally, Scotiabank dropped their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Three equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $994.82.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Equinix by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock worth $11,941,418,000 after buying an additional 88,654 shares during the last quarter. State Street Corp raised its stake in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $2,269,037,000 after acquiring an additional 62,005 shares during the last quarter. FMR LLC boosted its stake in shares of Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock valued at $2,135,606,000 after purchasing an additional 81,144 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of 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 valued at $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.