Equinix, Inc. (NASDAQ:EQIX) CEO Adaire Fox-Martin Sells 2,949 Shares

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Equinix Stock Performance

EQIX traded down $2.46 during trading on Thursday, hitting $909.74. The stock had a trading volume of 570,957 shares, compared to its average volume of 525,344. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50 day moving average price of $835.81 and a 200-day moving average price of $890.74. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The firm has a market cap of $88.99 billion, a price-to-earnings ratio of 106.40, a P/E/G ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equinix's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $8.86 earnings per share. As a group, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.06%. Equinix's dividend payout ratio is 195.01%.

Institutional Investors Weigh In On Equinix

A number of large investors have recently bought and sold shares of the company. Rothschild Investment LLC boosted its stake in Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock valued at $543,000 after acquiring an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Equinix by 3.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock worth $340,000 after purchasing an additional 11 shares during the last quarter. Great Lakes Retirement Inc. raised its holdings in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after purchasing an additional 12 shares during the period. Lake Street Advisors Group LLC lifted its stake in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 12 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQIX. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. BNP Paribas upgraded Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Scotiabank dropped their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $1,004.80.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.