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

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Equinix Stock Performance

EQIX stock 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 stock has a market cap of $89.51 billion, a P/E ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The firm has a 50 day simple moving average of $931.27 and a 200 day simple moving average of $901.04. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts anticipate 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. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. Equinix’s payout ratio is 199.30%.

Analysts Set New Price Targets

EQIX has been the topic of several recent research reports. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank dropped their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. BMO Capital Markets dropped their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial lifted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $994.82.

Institutional Trading of Equinix

A number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in Equinix by 80.6% in the fourth quarter. Mackenzie Financial Corp now owns 57,248 shares of the financial services provider’s stock valued at $53,979,000 after acquiring an additional 25,556 shares during the last quarter. Toronto Dominion Bank lifted its stake in Equinix by 8.4% in the fourth quarter. Toronto Dominion Bank now owns 51,495 shares of the financial services provider’s stock valued at $48,554,000 after acquiring an additional 3,975 shares during the last quarter. North Star Asset Management Inc. acquired a new stake in Equinix in the fourth quarter valued at approximately $273,000. GF Fund Management CO. LTD. acquired a new stake in Equinix in the fourth quarter valued at approximately $1,626,000. Finally, Pinney & Scofield Inc. acquired a new stake in Equinix in the fourth quarter valued at approximately $28,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.