Equinix, Inc. (NASDAQ:EQIX – Get Free Report) insider Brandi Galvin Morandi sold 3,726 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares of the company’s stock, valued at approximately $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brandi Galvin Morandi also recently made the following trade(s):
- On Wednesday, April 8th, Brandi Galvin Morandi sold 424 shares of Equinix stock. The shares were sold at an average price of $1,020.00, for a total value of $432,480.00.
- On Thursday, March 12th, Brandi Galvin Morandi sold 630 shares of Equinix stock. The shares were sold at an average price of $961.19, for a total value of $605,549.70.
Equinix Price Performance
EQIX stock traded down $18.21 during midday trading on Monday, reaching $1,062.74. The company had a trading volume of 404,808 shares, compared to its average volume of 530,468. The company has a market capitalization of $104.81 billion, a price-to-earnings ratio of 73.55, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. The stock has a 50 day moving average price of $1,060.35 and a 200-day moving average price of $916.55. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,128.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18.
Equinix Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s payout ratio is presently 142.84%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriflex Group Inc. increased its stake in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 26 shares during the period. Avion Wealth increased its stake in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock valued at $25,000 after buying an additional 11 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Equinix in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC increased its stake in shares of Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the period. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on EQIX. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,207.00 target price on shares of Equinix in a research note on Tuesday, May 5th. Jefferies Financial Group boosted their target price on Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on Equinix in a research note on Thursday, February 12th. Scotiabank boosted their target price on Equinix from $1,050.00 to $1,120.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on Equinix from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,143.60.
Equinix Company Profile
Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.
Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.
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