Charles J. Meyers Sells 3,562 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 3,562 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the transaction, the chairman now owns 15,513 shares in the company, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Equinix Trading Up 0.2 %

Shares of NASDAQ:EQIX traded up $1.51 during midday trading on Thursday, reaching $940.59. 275,366 shares of the company’s stock were exchanged, compared to its average volume of 500,881. The firm’s 50 day simple moving average is $932.87 and its two-hundred day simple moving average is $899.70. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market cap of $91.55 billion, a price-to-earnings ratio of 110.01, a P/E/G ratio of 2.28 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 1.99%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 199.30%.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent research reports. Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. 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 research note on Thursday, February 13th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $994.82.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of EQIX. Pinney & Scofield Inc. purchased a new position in Equinix during the 4th quarter valued at about $28,000. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Finally, Pacific Center for Financial Services boosted its stake in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after buying an additional 15 shares during the period. 94.94% of the stock is currently 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.