Insider Selling: Equinix, Inc. (NASDAQ:EQIX) CFO Sells 2,454 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the sale, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Equinix Stock Performance

Equinix stock opened at $940.59 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 company has a market capitalization of $91.55 billion, a PE ratio of 110.01, a P/E/G ratio of 2.28 and a beta of 0.72. The company has a 50 day moving average price of $932.17 and a 200-day moving average price of $899.99. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 1.99%. Equinix’s dividend payout ratio (DPR) is currently 199.30%.

Institutional Investors Weigh In On Equinix

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its position in shares of Equinix by 80.6% during the fourth quarter. Mackenzie Financial Corp now owns 57,248 shares of the financial services provider’s stock valued at $53,979,000 after buying an additional 25,556 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Equinix by 8.4% in the 4th quarter. Toronto Dominion Bank now owns 51,495 shares of the financial services provider’s stock worth $48,554,000 after buying an additional 3,975 shares during the last quarter. North Star Asset Management Inc. bought a new position in shares of Equinix during the 4th quarter worth approximately $273,000. GF Fund Management CO. LTD. purchased a new stake in Equinix during 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. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EQIX shares. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. TD Cowen lifted their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Scotiabank cut their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $994.82.

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.