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

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Equinix Stock Down 2.2 %

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’s 50 day simple moving average is $931.27 and its 200-day simple moving average is $901.85. The stock has a market capitalization of $89.51 billion, a price-to-earnings ratio of 107.56, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current 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 given a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in EQIX. Creative Planning increased its position in Equinix by 16.7% in the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after acquiring an additional 1,111 shares during the period. Sequoia Financial Advisors LLC increased its position in Equinix by 21.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock valued at $1,798,000 after acquiring an additional 354 shares during the period. Signaturefd LLC increased its position in Equinix by 6.0% in the 3rd quarter. Signaturefd LLC now owns 1,357 shares of the financial services provider’s stock valued at $1,205,000 after acquiring an additional 77 shares during the period. Private Advisor Group LLC increased its position in shares of Equinix by 37.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,992 shares of the financial services provider’s stock valued at $2,656,000 after purchasing an additional 813 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Equinix by 10.8% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,468 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 143 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank reduced their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets reduced their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.