Insider Selling: Equinix, Inc. (NASDAQ:EQIX) EVP Sells $1,202,838.01 in Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Raouf Abdel also recently made the following trade(s):

• On Friday, November 8th, Raouf Abdel sold 1,022 shares of Equinix stock. The stock was sold at an average price of $923.56, for a total value of $943,878.32.

Equinix Stock Down 0.5 %

Shares of EQIX opened at $915.59 on Monday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a fifty day moving average price of $941.64 and a 200-day moving average price of $876.70. The firm has a market capitalization of $88.34 billion, a P/E ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.86%. Equinix’s payout ratio is 153.65%.

Analysts Set New Price Targets

EQIX has been the subject of a number of research reports. TD Cowen upped their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Stifel Nicolaus boosted their target price 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 lifted their price objective on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their target price for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC raised its stake in Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. raised its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after acquiring an additional 53,729 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.