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 stock in a transaction on 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 directly owns 24,402 shares in the company, valued at $22,677,754.68. This trade represents a 9.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $1.51 during trading on Thursday, reaching $940.59. 275,366 shares of the company traded hands, compared to its average volume of 500,881. The firm’s fifty day simple moving average is $932.87 and its 200 day simple moving average is $899.70. The stock has a market cap of $91.55 billion, a P/E ratio of 110.01, a PEG ratio of 2.28 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. 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 (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 199.30%.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently modified their holdings of the business. Pinney & Scofield Inc. purchased a new position in shares of Equinix in the 4th quarter valued at about $28,000. Kestra Investment Management LLC acquired a new stake in Equinix in the 4th quarter worth about $31,000. Pacific Center for Financial Services boosted its holdings in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer increased their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Scotiabank lowered their price objective on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.