Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers Sells 6,234 Shares

Equinix, Inc. (NASDAQ:EQIX) Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Equinix Stock Down 0.5 %

Shares of Equinix stock opened at $817.96 on Friday. The company has a fifty day moving average price of $800.75 and a 200 day moving average price of $794.06. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The stock has a market cap of $77.63 billion, a price-to-earnings ratio of 82.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company posted $8.04 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.08%. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $876.71.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in EQIX. Norges Bank acquired a new position in Equinix in the 4th quarter worth $1,574,132,000. Swedbank AB acquired a new position in Equinix in the 1st quarter worth $294,526,000. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Finally, M&G Plc acquired a new position in Equinix in the 1st quarter worth $187,089,000. Institutional investors and hedge funds 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.