Equinix, Inc. (NASDAQ:EQIX - Get Free Report) Chairman Charles Meyers sold 2,716 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the transaction, the chairman directly owned 12,594 shares of the company's stock, valued at $12,155,099.10. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Equinix Stock Performance
NASDAQ:EQIX opened at $969.04 on Thursday. The firm has a market capitalization of $95.21 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90. The firm has a 50-day moving average price of $844.71 and a 200 day moving average price of $805.04.
Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company posted $7.92 earnings per share. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.
Equinix Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. This is a boost from Equinix's previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. Equinix's dividend payout ratio (DPR) is presently 150.11%.
Hedge Funds Weigh In On Equinix
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Quent Capital LLC raised its position in Equinix by 4.2% in the 3rd quarter. Quent Capital LLC now owns 298 shares of the financial services provider's stock valued at $233,000 after buying an additional 12 shares during the last quarter. Flputnam Investment Management Co. grew its stake in shares of Equinix by 1.0% during the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider's stock worth $1,014,000 after acquiring an additional 13 shares in the last quarter. Paragon Private Wealth Management LLC raised its holdings in shares of Equinix by 2.7% in the third quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 13 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Equinix by 2.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 498 shares of the financial services provider's stock worth $382,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 94.94% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on EQIX shares. Wall Street Zen cut Equinix from a "hold" rating to a "sell" rating in a report on Saturday, January 10th. Truist Financial boosted their target price on shares of Equinix from $973.00 to $1,087.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Sanford C. Bernstein began coverage on shares of Equinix in a research report on Thursday. They set an "outperform" rating and a $1,128.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Finally, Barclays reiterated a "positive" rating and issued a $870.00 price objective on shares of Equinix in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,006.91.
Check Out Our Latest Stock Analysis on Equinix
About Equinix
(
Get Free Report)
Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.
Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.
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