Equinix, Inc. (NASDAQ:EQIX – Get Free Report) insider Michael Paladin sold 307 shares of Equinix stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the transaction, the insider owned 2,450 shares in the company, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Michael Shane Paladin also recently made the following trade(s):
- On Wednesday, September 2nd, Michael Paladin sold 203 shares of Equinix stock. The shares were sold at an average price of $1,015.71, for a total value of $206,189.13.
Equinix Stock Down 1.8%
EQIX stock opened at $1,023.81 on Friday. The company has a 50 day moving average of $1,043.91 and a two-hundred day moving average of $1,039.54. The company has a market cap of $101.02 billion, a price-to-earnings ratio of 65.92, a PEG ratio of 1.49 and a beta of 0.99. Equinix, Inc. has a 12-month low of $720.62 and a 12-month high of $1,128.68. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.
Equinix Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a yield of 2.0%. Equinix’s dividend payout ratio is presently 132.90%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Stifel Nicolaus boosted their price objective on shares of Equinix from $1,250.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Evercore reiterated an “outperform” rating and issued a $1,270.00 target price on shares of Equinix in a research note on Tuesday, August 18th. Scotiabank reissued a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price target on Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,204.80.
Get Our Latest Stock Report on EQIX
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avion Wealth grew its position in shares of Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after buying an additional 11 shares during the period. Elevation Wealth Partners LLC raised its position in shares of Equinix by 166.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 15 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $30,000. Physician Wealth Advisors Inc. boosted its stake in Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 24 shares during the last quarter. Finally, Trust Co. of Vermont bought a new position in Equinix during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
Equinix Company Profile
Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.
The company’s Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.
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