Insider Selling: Equinix (NASDAQ:EQIX) EVP Sells 584 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares in the company, valued at $7,501,479.92. This represents a 6.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Raouf Abdel also recently made the following trade(s):

• On Friday, January 16th, Raouf Abdel sold 927 shares of Equinix stock. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06.

Equinix Trading Down 0.2%

Shares of Equinix stock traded down $1.57 during trading on Friday, hitting $969.90. The stock had a trading volume of 494,928 shares, compared to its average volume of 655,121. The stock has a 50 day simple moving average of $867.66 and a 200 day simple moving average of $812.35. The company has a market capitalization of $95.29 billion, a PE ratio of 70.54, a P/E/G ratio of 2.50 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the company posted $7.92 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 2.1%. Equinix’s payout ratio is presently 150.11%.

Analysts Set New Price Targets

A number of brokerages have commented on EQIX. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a research report on Thursday, February 12th. Wells Fargo & Company boosted their price objective on shares of Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Sanford C. Bernstein began coverage on shares of Equinix in a research note on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,006.91.

Institutional Investors Weigh In On Equinix

Several large investors have recently made changes to their positions in EQIX. Vanguard Group Inc. increased its holdings in Equinix by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after buying an additional 107,227 shares during the last quarter. State Street Corp grew its position in Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after acquiring an additional 220,981 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Cohen & Steers Inc. raised its holdings in shares of Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after purchasing an additional 493,141 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Equinix by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after purchasing an additional 25,383 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.