Insider Selling: Equinix, Inc. (REIT) (NASDAQ:EQIX) CEO Sells 5,051 Shares of Stock

Equinix, Inc. (REIT) (NASDAQ:EQIX) CEO Charles J. Meyers sold 5,051 shares of the company’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $795.42, for a total value of $4,017,666.42. Following the completion of the transaction, the chief executive officer now owns 8,815 shares of the company’s stock, valued at $7,011,627.30. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of NASDAQ:EQIX opened at $822.99 on Friday. Equinix, Inc. has a 52-week low of $586.73 and a 52-week high of $839.77. The company has a market cap of $73.72 billion, a price-to-earnings ratio of 180.09, a P/E/G ratio of 1.98 and a beta of 0.28. The stock has a 50 day moving average price of $724.34. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.55 and a quick ratio of 1.55.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.03 by ($4.29). Equinix had a return on equity of 5.85% and a net margin of 6.62%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $6.21 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. On average, analysts forecast that Equinix, Inc. will post 24.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 16th. Stockholders of record on Wednesday, May 19th will be given a $2.87 dividend. This represents a $11.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, May 18th. Equinix’s dividend payout ratio is currently 46.37%.

A number of equities analysts have recently issued reports on EQIX shares. Cowen cut their price objective on Equinix from $864.00 to $811.00 and set an “outperform” rating for the company in a report on Thursday, February 11th. Credit Suisse Group dropped their target price on Equinix from $936.00 to $932.00 and set an “outperform” rating for the company in a report on Wednesday, April 28th. Wolfe Research began coverage on Equinix in a report on Thursday, March 18th. They set an “outperform” rating for the company. TheStreet upgraded Equinix from a “c+” rating to a “b-” rating in a report on Wednesday, April 28th. Finally, Mizuho increased their target price on Equinix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, April 21st. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Equinix currently has an average rating of “Buy” and an average target price of $832.06.

Several large investors have recently made changes to their positions in the company. WD Rutherford LLC purchased a new stake in shares of Equinix in the 4th quarter worth approximately $29,000. Ellevest Inc. grew its stake in shares of Equinix by 1,333.3% in the 4th quarter. Ellevest Inc. now owns 43 shares of the financial services provider’s stock worth $31,000 after buying an additional 40 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Equinix in the 1st quarter worth approximately $31,000. Sage Private Wealth Group LLC purchased a new stake in shares of Equinix in the 4th quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Equinix in the 1st quarter worth approximately $34,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Insider Buying and Selling by Quarter for Equinix (NASDAQ:EQIX)

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