Christopher Paisley Sells 4,000 Shares of Equinix (NASDAQ:EQIX) Stock

Key Points

• Equinix director Christopher Paisley sold 4,000 shares at an average price of $1,019.28, generating approximately $4.08 million. His remaining stake fell 22.4% to 13,859 shares.
• Equinix shares rose 1.2% to $1,031.44, while the company announced a quarterly dividend of $5.16 per share, equivalent to a 2.0% annualized yield.
• Wall Street maintains a bullish outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $1,195, above its current trading level.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) Director Christopher Paisley sold 4,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the completion of the transaction, the director owned 13,859 shares of the company's stock, valued at approximately $14,126,201.52. The trade was a 22.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Equinix Stock Up 1.2%

NASDAQ:EQIX traded up $12.16 during trading hours on Monday, hitting $1,031.44. 574,331 shares of the company's stock traded hands, compared to its average volume of 535,321. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $101.77 billion, a P/E ratio of 66.42, a P/E/G ratio of 2.00 and a beta of 0.99. The stock's fifty day moving average price is $1,052.32 and its two-hundred day moving average price is $998.10. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68.

Equinix Dividend Announcement

The company 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 $5.16 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix's dividend payout ratio (DPR) is presently 132.90%.

Hedge Funds Weigh In On Equinix

Institutional investors have recently bought and sold shares of the business. Avion Wealth lifted its holdings in 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 in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Equinix by 166.7% during the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider's stock worth $25,000 after purchasing an additional 15 shares during the period. Kemnay Advisory Services Inc. bought a new position in Equinix during the fourth quarter worth about $30,000. Princeton Global Asset Management LLC raised its position in shares of Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 28 shares during the period. Finally, Physician Wealth Advisors Inc. raised its holdings in Equinix by 266.7% in the first quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider's stock worth $32,000 after purchasing an additional 24 shares during the period. Institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Guggenheim restated a "buy" rating and set a $1,235.00 price objective on shares of Equinix in a report on Wednesday, May 20th. Raymond James Financial upgraded Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 price target on the stock in a research note on Thursday, April 30th. Cantor Fitzgerald lifted their price objective on Equinix from $1,186.00 to $1,211.00 and gave the stock an "overweight" rating in a report on Thursday. The Goldman Sachs Group upped their target price on Equinix from $894.00 to $1,015.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Finally, Evercore reiterated an "outperform" rating and set a $1,240.00 price target on shares of Equinix in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,195.00.

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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