Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor Sells 2,454 Shares

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Equinix Stock Performance

EQIX opened at $919.68 on Friday. The business’s 50 day moving average is $931.27 and its 200-day moving average is $901.85. The stock has a market cap of $89.51 billion, a PE ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. 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 results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. On average, analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders 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 dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 219.42%.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in EQIX. Pinney & Scofield Inc. bought a new stake in Equinix during the fourth quarter worth approximately $28,000. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Pacific Center for Financial Services raised its holdings in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Scotiabank lowered their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Truist Financial lifted their price target 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 analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Buy” and a consensus price target of $994.82.

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.