Insider Selling: Equinix, Inc. (NASDAQ:EQIX) Insider Sells $1,562,012.74 in Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Brandi Galvin Morandi also recently made the following trade(s):

• On Friday, October 25th, Brandi Galvin Morandi sold 863 shares of Equinix stock. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00.
• On Tuesday, September 10th, Brandi Galvin Morandi sold 864 shares of Equinix stock. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00.

Equinix Stock Performance

NASDAQ EQIX opened at $890.82 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50 day simple moving average is $874.46 and its 200-day simple moving average is $809.55. The company has a market cap of $85.96 billion, a PE ratio of 80.33, a price-to-earnings-growth ratio of 2.14 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 12.29% and a return on equity of 8.34%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research reports. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Mizuho upped their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

Institutional Trading of Equinix

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after acquiring an additional 19,844 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after acquiring an additional 112,194 shares during the period. Hedge funds and other institutional investors 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.