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

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

NASDAQ EQIX opened at $493.99 on Thursday. Equinix Inc has a 52-week low of $335.29 and a 52-week high of $494.62. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $39.18 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a yield of 1.99%. Equinix’s payout ratio is 47.56%.

A number of analysts have recently commented on the company. Wells Fargo & Co upped their price target on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. Zacks Investment Research cut Equinix from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Nomura upped their price target on Equinix from $500.00 to $505.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Credit Suisse Group upped their price target on Equinix from $474.00 to $506.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets upped their price target on Equinix from $503.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Equinix has an average rating of “Buy” and a consensus price target of $501.44.

Several institutional investors and hedge funds have recently modified their holdings of the company. Eagle Boston Investment Management Inc. grew its stake in shares of Equinix by 1.1% during the 1st quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock worth $940,000 after acquiring an additional 23 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Equinix by 25.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 114 shares of the financial services provider’s stock valued at $52,000 after buying an additional 23 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of Equinix by 27.9% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock valued at $50,000 after buying an additional 24 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its holdings in shares of Equinix by 15.5% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 186 shares of the financial services provider’s stock valued at $84,000 after buying an additional 25 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC boosted its holdings in shares of Equinix by 1.2% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock valued at $821,000 after buying an additional 27 shares during the last quarter. 99.72% of the stock is owned by 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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