Insider Selling: Equinix, Inc. (EQIX) COO Sells $501,182.00 in Stock
Equinix, Inc. (NASDAQ:EQIX) COO Charles J. Meyers sold 1,090 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $459.80, for a total value of $501,182.00. Following the transaction, the chief operating officer now directly owns 2,297 shares of the company’s stock, valued at $1,056,160.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Equinix, Inc. (EQIX) opened at 462.00 on Friday. The stock has a market cap of $36.01 billion, a P/E ratio of 169.67 and a beta of 0.56. The company has a 50 day moving average price of $452.91 and a 200-day moving average price of $422.91. Equinix, Inc. has a 12 month low of $314.55 and a 12 month high of $470.44.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, topping the consensus estimate of $3.41 by $1.18. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a net margin of 5.18% and a return on equity of 5.51%. On average, equities research analysts predict that Equinix, Inc. will post $3.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, August 21st. Equinix’s dividend payout ratio is currently 293.04%.
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Several brokerages have weighed in on EQIX. Barclays PLC reissued an “equal weight” rating and set a $475.00 price objective (up from $410.00) on shares of Equinix in a report on Wednesday, August 9th. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Royal Bank Of Canada increased their price objective on Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Cowen and Company reissued an “outperform” rating and set a $482.00 price objective (up from $465.00) on shares of Equinix in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $497.00 price objective (up from $485.00) on shares of Equinix in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $464.78.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Equinix by 9.9% in the 1st quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock worth $5,279,456,000 after buying an additional 1,192,961 shares during the period. BlackRock Inc. boosted its holdings in Equinix by 3,737.0% in the 1st quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock worth $2,520,566,000 after buying an additional 6,131,516 shares during the period. State Street Corp boosted its holdings in Equinix by 5.2% in the 1st quarter. State Street Corp now owns 3,007,201 shares of the financial services provider’s stock worth $1,204,001,000 after buying an additional 149,260 shares during the period. FMR LLC boosted its holdings in Equinix by 0.4% in the 2nd quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock worth $1,174,868,000 after buying an additional 10,307 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Equinix by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,909,287 shares of the financial services provider’s stock worth $763,459,000 after buying an additional 102,082 shares during the period. 94.41% of the stock is owned by institutional investors.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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