Equinix, Inc. (NASDAQ:EQIX) EVP Jonathan Lin Sells 93 Shares

Equinix, Inc. (NASDAQ:EQIX) EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Equinix Trading Down 0.7 %

EQIX traded down $5.85 during trading on Thursday, hitting $821.74. 333,724 shares of the company’s stock were exchanged, compared to its average volume of 550,138. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a 50 day moving average price of $798.12 and a 200 day moving average price of $794.56. The firm has a market cap of $77.99 billion, a P/E ratio of 83.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.04 earnings per share. As a group, analysts expect that Equinix, Inc. will post 31.04 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.07%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after acquiring an additional 1,159 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Equinix in the 4th quarter worth about $3,724,000. Global Assets Advisory LLC acquired a new stake in shares of Equinix in the 1st quarter worth about $15,187,000. Schroder Investment Management Group increased its holdings in shares of Equinix by 0.6% in the 4th quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after acquiring an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQIX. Barclays increased their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, TD Cowen increased their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

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.