Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley Sells 100 Shares

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Equinix Price Performance

NASDAQ:EQIX opened at $877.57 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s 50-day moving average price is $825.91 and its 200 day moving average price is $892.56. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The firm has a market cap of $85.84 billion, a P/E ratio of 102.64, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.86 earnings per share. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Equinix during the 4th quarter valued at $1,067,270,000. GAMMA Investing LLC boosted its position in Equinix by 82,340.9% during the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Nuveen LLC purchased a new position in Equinix in the first quarter valued at about $662,663,000. Northern Trust Corp increased its position in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research reports. Mizuho dropped their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Oppenheimer increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Scotiabank decreased their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 22nd. TD Securities boosted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $1,004.65.

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.