Insider Selling: Equinix Inc (EQIX) CEO Sells 282 Shares of Stock

Equinix Inc (NASDAQ:EQIX) CEO Charles J. Meyers sold 282 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $462.31, for a total transaction of $130,371.42. Following the transaction, the chief executive officer now owns 5,882 shares of the company’s stock, valued at $2,719,307.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NASDAQ:EQIX traded down $7.34 during midday trading on Tuesday, hitting $452.66. The company had a trading volume of 346,900 shares, compared to its average volume of 562,625. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $467.99. The firm has a market capitalization of $37.20 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.00 and a current ratio of 1.00.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $4.46 by ($3.10). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that Equinix Inc will post 20.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 27th were paid a $2.46 dividend. The ex-dividend date was Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a yield of 2.17%. Equinix’s payout ratio is currently 47.56%.

Several brokerages recently issued reports on EQIX. BidaskClub upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Citigroup upped their target price on shares of Equinix from $481.00 to $482.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Berenberg Bank began coverage on shares of Equinix in a research report on Tuesday, January 8th. They issued a “buy” rating and a $477.00 target price for the company. Nomura upped their target price on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. Finally, Zacks Investment Research upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $495.29.

A number of institutional investors have recently bought and sold shares of the business. Taylor Frigon Capital Management LLC lifted its stake in Equinix by 1.2% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 27 shares during the last quarter. Eaton Vance Management lifted its stake in Equinix by 2.2% in the fourth quarter. Eaton Vance Management now owns 1,356 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in Equinix by 19.1% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 34 shares during the last quarter. Creative Planning lifted its stake in Equinix by 4.3% in the fourth quarter. Creative Planning now owns 988 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 41 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Equinix by 10.4% in the fourth quarter. IFP Advisors Inc now owns 447 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 42 shares during the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.

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About Equinix

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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Insider Buying and Selling by Quarter for Equinix (NASDAQ:EQIX)

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