Brandi Galvin Morandi Sells 684 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $919.68 on Friday. The firm has a market capitalization of $89.51 billion, a PE ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business has a 50-day moving average of $931.27 and a two-hundred day moving average of $901.85. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping 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 forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. Equinix’s dividend payout ratio is presently 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of “Buy” and an average target price of $994.82.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its position in shares of Equinix by 80.6% in the fourth quarter. Mackenzie Financial Corp now owns 57,248 shares of the financial services provider’s stock worth $53,979,000 after buying an additional 25,556 shares during the period. Toronto Dominion Bank boosted its position in shares of Equinix by 8.4% in the fourth quarter. Toronto Dominion Bank now owns 51,495 shares of the financial services provider’s stock worth $48,554,000 after buying an additional 3,975 shares during the period. North Star Asset Management Inc. purchased a new position in Equinix in the fourth quarter valued at about $273,000. GF Fund Management CO. LTD. purchased a new position in Equinix in the fourth quarter valued at about $1,626,000. Finally, Pinney & Scofield Inc. purchased a new position in Equinix in the fourth quarter valued at about $28,000. 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.