Keith D. Taylor Sells 2,454 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 2,454 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the transaction, the chief financial officer now directly owns 24,402 shares in the company, valued at $22,677,754.68. The trade was a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $919.68 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $89.51 billion, a price-to-earnings ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The business’s 50-day simple moving average is $931.27 and its 200-day simple moving average is $901.04. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.04%. Equinix’s dividend payout ratio is presently 199.30%.

Institutional Trading of Equinix

Several hedge funds have recently added to or reduced their stakes in EQIX. Creative Planning boosted its stake in Equinix by 16.7% during the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Equinix by 12.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,559 shares of the financial services provider’s stock valued at $41,327,000 after purchasing an additional 5,189 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Equinix by 8.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 60 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Equinix by 21.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock worth $1,798,000 after acquiring an additional 354 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Equinix by 6.0% in the 3rd quarter. Signaturefd LLC now owns 1,357 shares of the financial services provider’s stock worth $1,205,000 after acquiring an additional 77 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on EQIX shares. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Stifel Nicolaus upped 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 dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Three investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $994.82.

About Equinix

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.