Equinix, Inc. (NASDAQ:EQIX) CFO Sells $1,456,770.00 in Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Equinix Stock Down 0.1 %

Shares of NASDAQ:EQIX traded down $1.19 during trading on Tuesday, reaching $963.65. 386,928 shares of the stock were exchanged, compared to its average volume of 532,407. The firm has a market cap of $92.98 billion, a price-to-earnings ratio of 86.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a fifty day moving average of $902.59 and a two-hundred day moving average of $833.34.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Equinix during the third quarter valued at approximately $2,483,000. Inspire Trust Co. N.A. lifted its stake in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares in the last quarter. Tidal Investments LLC boosted its holdings in Equinix by 12.9% in the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after purchasing an additional 2,940 shares during the last quarter. Cim Investment Management Inc. lifted its stake in shares of Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after purchasing an additional 879 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Equinix during the 3rd quarter valued at $582,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EQIX. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Mizuho increased their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $962.56.

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.