Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers Sells 3,562 Shares

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 3,562 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the sale, the chairman now owns 15,513 shares of the company’s stock, valued at $14,412,197.52. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Equinix Stock Performance

Shares of Equinix stock opened at $919.68 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $931.27 and a two-hundred day moving average price of $901.85. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a market cap of $89.51 billion, a P/E ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. TD Cowen increased their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Equinix has an average rating of “Buy” and a consensus price target of $994.82.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinney & Scofield Inc. bought a new position in shares of Equinix during the 4th quarter worth about $28,000. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter worth about $31,000. Pacific Center for Financial Services boosted its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. 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.