Scott Crenshaw Sells 1,107 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $864.78 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm’s fifty day moving average is $804.36 and its 200-day moving average is $793.09. The firm has a market cap of $82.10 billion, a PE ratio of 86.74, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EQIX shares. Barclays upped their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $876.71.

Institutional Trading of Equinix

A number of large investors have recently modified their holdings of EQIX. Public Employees Retirement System of Ohio boosted its stake in shares of Equinix by 0.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the period. Pinebridge Investments L.P. bought a new position in shares of Equinix in the 4th quarter worth approximately $3,724,000. Global Assets Advisory LLC purchased a new position in shares of Equinix in the 1st quarter valued at approximately $15,187,000. Schroder Investment Management Group grew its stake in Equinix by 0.6% in the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after purchasing an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in Equinix by 48.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after buying an additional 2,133 shares during the period. 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.