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 firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares of the company’s stock, valued at approximately $14,412,197.52. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Equinix Trading Down 2.2 %

Shares of Equinix stock opened at $919.68 on Friday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a market cap of $89.51 billion, a PE ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The stock has a fifty day moving average price of $931.27 and a 200-day moving average price of $901.04. 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 quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.04%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 199.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EQIX shares. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Scotiabank cut their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Three investment 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’s stock. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and an average target price of $994.82.

Institutional Investors Weigh In On Equinix

Large investors have recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Equinix in the 4th quarter worth about $28,000. Kestra Investment Management LLC purchased a new position in Equinix during the 4th quarter valued at about $31,000. Pacific Center for Financial Services grew its holdings in Equinix by 65.2% during 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 in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% during the 3rd 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 during the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.