Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley Sells 75 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 75 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $786.56, for a total transaction of $58,992.00. Following the completion of the sale, the director now directly owns 17,841 shares of the company’s stock, valued at $14,033,016.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Equinix Stock Performance

Shares of EQIX stock opened at $784.34 on Tuesday. The company has a 50 day moving average price of $741.53 and a 200-day moving average price of $757.42. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $73.63 billion, a PE ratio of 84.34, a P/E/G ratio of 1.52 and a beta of 0.62. Equinix, Inc. has a 52 week low of $640.92 and a 52 week high of $821.63.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.17%. This is a positive change from Equinix’s previous quarterly dividend of $3.41. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s payout ratio is 183.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $780.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Morgan Stanley lifted their price target on shares of Equinix from $725.00 to $785.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. StockNews.com started coverage on shares of Equinix in a research report on Thursday, October 5th. They set a “hold” rating for the company. BMO Capital Markets lowered their price target on shares of Equinix from $870.00 to $850.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equinix from $825.00 to $900.00 in a research report on Friday, August 4th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $824.10.

Institutional Trading of Equinix

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its position in Equinix by 75.0% during the second quarter. Handelsbanken Fonder AB now owns 20,577 shares of the financial services provider’s stock valued at $16,131,000 after buying an additional 8,817 shares during the period. Versor Investments LP bought a new stake in Equinix during the first quarter valued at approximately $433,000. Credit Suisse AG boosted its position in shares of Equinix by 4.5% in the first quarter. Credit Suisse AG now owns 293,475 shares of the financial services provider’s stock worth $211,607,000 after purchasing an additional 12,693 shares during the period. ExodusPoint Capital Management LP boosted its position in shares of Equinix by 87.0% in the first quarter. ExodusPoint Capital Management LP now owns 4,050 shares of the financial services provider’s stock worth $2,920,000 after purchasing an additional 1,884 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Equinix in the first quarter worth approximately $6,922,000. 93.16% of the stock is currently owned by institutional investors.

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.