Equinix (NASDAQ:EQIX) Director Sells $4,077,120.00 in Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher Paisley sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the transaction, the director owned 13,859 shares of the company’s stock, valued at approximately $14,126,201.52. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Equinix Stock Up 0.4%

Shares of NASDAQ:EQIX opened at $1,056.20 on Thursday. The firm has a market cap of $104.22 billion, a PE ratio of 68.01, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99. The company has a fifty day simple moving average of $1,051.52 and a 200 day simple moving average of $1,001.67. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be given a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s payout ratio is presently 132.90%.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. increased its stake in Equinix by 27.3% during the 1st quarter. SJS Investment Consulting Inc. now owns 42 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 9 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Equinix by 3.1% during the second quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider’s stock valued at $342,000 after buying an additional 10 shares during the last quarter. Avion Wealth increased its position in shares of Equinix by 73.3% during the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares in the last quarter. Blue Trust Inc. increased its position in shares of Equinix by 1.3% during the first quarter. Blue Trust Inc. now owns 931 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 12 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Equinix by 30.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 51 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on EQIX shares. The Goldman Sachs Group lifted their price target on Equinix from $894.00 to $1,015.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Scotiabank restated a “sector perform” rating and set a $1,208.00 price objective on shares of Equinix in a research note on Thursday, July 30th. BTIG Research assumed coverage on Equinix in a research report on Friday, July 10th. They issued a “buy” rating and a $1,210.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, April 30th. Finally, Royal Bank Of Canada raised their price objective on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,196.20.

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.