Equinix Inc (NASDAQ:EQIX) Director Sells $97,576.00 in Stock

Equinix Inc (NASDAQ:EQIX) Director Christopher B. Paisley sold 200 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $487.88, for a total transaction of $97,576.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ:EQIX opened at $503.67 on Thursday. The stock has a market cap of $40.78 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.74 and a beta of 0.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. Equinix Inc has a fifty-two week low of $335.29 and a fifty-two week high of $508.99.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $5.16 by ($3.72). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Equinix had a net margin of 8.06% and a return on equity of 5.66%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.21 earnings per share. Equities research analysts expect that Equinix Inc will post 20.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s payout ratio is presently 47.56%.

Several brokerages have commented on EQIX. BidaskClub lowered shares of Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Argus began coverage on shares of Equinix in a report on Monday, June 3rd. They issued a “buy” rating and a $550.00 price objective for the company. ValuEngine upgraded shares of Equinix from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Deutsche Bank increased their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $502.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thor Advisors LLC purchased a new position in shares of Equinix in the first quarter worth approximately $80,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Equinix by 18.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,958 shares of the financial services provider’s stock valued at $2,700,000 after buying an additional 908 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Equinix in the first quarter worth $105,000. Meridian Wealth Management LLC bought a new stake in Equinix in the first quarter worth $28,000. Finally, Clearbridge Investments LLC increased its position in Equinix by 10.2% in the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock worth $552,610,000 after purchasing an additional 112,564 shares during the last quarter. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

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Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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