Equinix, Inc. (NASDAQ:EQIX) CEO Stephen M. Smith sold 5,348 shares of Equinix stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $432.60, for a total transaction of $2,313,544.80. Following the completion of the sale, the chief executive officer now owns 18,967 shares in the company, valued at $8,205,124.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Equinix, Inc. (NASDAQ EQIX) opened at 432.22 on Tuesday. The company has a market capitalization of $33.67 billion, a PE ratio of 155.70 and a beta of 0.61. Equinix, Inc. has a 52-week low of $314.55 and a 52-week high of $447.26. The firm’s 50-day moving average is $432.52 and its 200-day moving average is $392.22.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $4.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.94. The firm had revenue of $949.53 million during the quarter, compared to the consensus estimate of $946.89 million. Equinix had a return on equity of 5.88% and a net margin of 5.38%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $1.68 EPS. On average, equities research analysts forecast that Equinix, Inc. will post $4.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 24th will be given a dividend of $2.00 per share. The ex-dividend date is Monday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.85%. Equinix’s dividend payout ratio (DPR) is presently 286.74%.
EQIX has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $423.00 price objective on the stock in a report on Tuesday, March 7th. Citigroup Inc. upgraded shares of Equinix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $408.00 to $435.00 in a report on Monday, March 13th. They noted that the move was a valuation call. Cowen and Company lifted their price objective on shares of Equinix from $417.00 to $453.00 and gave the company an “outperform” rating in a report on Wednesday, March 29th. Macquarie initiated coverage on shares of Equinix in a report on Thursday, April 6th. They issued an “outperform” rating and a $450.00 price objective on the stock. Finally, Barclays PLC reiterated a “hold” rating and issued a $410.00 price objective (up from $400.00) on shares of Equinix in a report on Friday, April 21st. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $452.20.
Several hedge funds have recently modified their holdings of EQIX. BlackRock Inc. increased its stake in shares of Equinix by 3,737.0% in the first quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock worth $2,520,566,000 after buying an additional 6,131,516 shares during the period. Norges Bank acquired a new stake in shares of Equinix during the fourth quarter worth about $703,626,000. Vanguard Group Inc. increased its stake in shares of Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock worth $5,279,456,000 after buying an additional 1,192,961 shares during the period. Bank of Montreal Can increased its stake in shares of Equinix by 398.9% in the first quarter. Bank of Montreal Can now owns 443,878 shares of the financial services provider’s stock worth $177,716,000 after buying an additional 354,909 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Equinix by 840.2% in the first quarter. Canada Pension Plan Investment Board now owns 213,050 shares of the financial services provider’s stock worth $85,299,000 after buying an additional 190,391 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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