Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers Sells 6,234 Shares

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Equinix Trading Down 0.7 %

Shares of EQIX traded down $5.85 during trading on Thursday, reaching $821.74. 333,724 shares of the company traded hands, compared to its average volume of 550,138. The stock has a 50-day simple moving average of $798.12 and a 200-day simple moving average of $794.56. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock has a market cap of $77.99 billion, a PE ratio of 83.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $8.04 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen increased their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays lifted their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. The Goldman Sachs Group started coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $876.71.

Institutional Trading of Equinix

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. Cohen & Steers Inc. increased its position in shares of Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the last quarter. Norges Bank purchased a new stake in shares of Equinix during the 4th quarter worth $1,574,132,000. Principal Financial Group Inc. grew its stake in shares of Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.