Brandi Galvin Morandi Sells 863 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Brandi Galvin Morandi also recently made the following trade(s):

• On Tuesday, September 10th, Brandi Galvin Morandi sold 864 shares of Equinix stock. The shares were sold at an average price of $850.00, for a total value of $734,400.00.

Equinix Trading Down 0.7 %

NASDAQ:EQIX opened at $905.91 on Wednesday. The firm has a market capitalization of $85.98 billion, a P/E ratio of 90.86, a P/E/G ratio of 2.11 and a beta of 0.71. The business has a 50 day simple moving average of $864.73 and a 200 day simple moving average of $803.33. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

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

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.88%. Equinix’s payout ratio is currently 170.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQIX. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. TD Cowen increased their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Evercore ISI boosted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $927.67.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in the business. BDF Gestion bought a new stake in Equinix during the 2nd quarter valued at $2,659,000. Bessemer Group Inc. lifted its holdings in Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares during the period. GSA Capital Partners LLP bought a new position in Equinix in the 1st quarter valued at about $804,000. E. Ohman J or Asset Management AB increased its stake in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after buying an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after buying an additional 75,888 shares in the last quarter. 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.