Brandi Galvin Morandi Sells 864 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Equinix Trading Up 0.3 %

EQIX stock traded up $2.92 during trading on Wednesday, reaching $867.70. 656,344 shares of the stock traded hands, compared to its average volume of 549,807. The business’s 50 day moving average price is $804.36 and its 200-day moving average price is $793.09. The firm has a market capitalization of $82.35 billion, a PE ratio of 86.73, a P/E/G ratio of 1.99 and a beta of 0.71. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. 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 (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.04 EPS. As a group, sell-side analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current 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. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Equinix by 0.6% in the fourth 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 in the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Equinix in the fourth quarter worth about $3,724,000. Global Assets Advisory LLC acquired a new position in shares of Equinix in the first quarter worth about $15,187,000. Schroder Investment Management Group lifted its stake in shares of Equinix by 0.6% in the fourth 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 in the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Equinix by 48.0% in the first 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 in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQIX. Mizuho began coverage on Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Barclays raised their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target 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.