Equinix, Inc. (NASDAQ:EQIX) CFO Sells $2,280,600.36 in Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the sale, the chief financial officer now owns 24,402 shares in the company, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Equinix Trading Down 2.2 %

Shares of EQIX opened at $919.68 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The stock’s fifty day simple moving average is $931.27 and its 200 day simple moving average is $901.85. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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 return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders 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 yield of 2.04%. Equinix’s dividend payout ratio (DPR) is 219.42%.

Analyst Ratings Changes

A number of equities research analysts have commented on EQIX shares. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, BMO Capital Markets reduced their price target 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. Three 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $994.82.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at about $28,000. Kestra Investment Management LLC purchased a new position in Equinix in the fourth quarter valued at about $31,000. GHP Investment Advisors Inc. grew its stake in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Pacific Center for Financial Services grew its stake in shares of Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other 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.