Insider Selling: Equinix (NASDAQ:EQIX) Insider Sells 635 Shares of Stock

Key Points

• Jonathan Lin sold 635 Equinix shares on March 12 at an average price of $965.71 for about $613,226, trimming his ownership by 5.56% to 10,788 shares valued at roughly $10.42M.
• Equinix missed quarterly estimates (EPS $8.91 vs. $9.07; revenue $2.42B vs. $2.46B) but raised its quarterly dividend to $5.16 ($20.64 annualized, ~2.1% yield).
• Analyst sentiment is largely positive with a consensus Moderate Buy and an average target near $1,006.91; the stock trades at a P/E of 70.54 and a market cap of about $95.3B.

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) insider Jonathan Lin sold 635 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the sale, the insider directly owned 10,788 shares of the company's stock, valued at $10,418,079.48. The trade was a 5.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jonathan Lin also recently made the following trade(s):

• On Friday, January 16th, Jonathan Lin sold 888 shares of Equinix stock. The shares were sold at an average price of $801.78, for a total value of $711,980.64.

Equinix Stock Down 0.2%

NASDAQ EQIX traded down $1.57 during mid-day trading on Friday, hitting $969.90. The company's stock had a trading volume of 494,928 shares, compared to its average volume of 655,121. The firm has a market capitalization of $95.29 billion, a price-to-earnings ratio of 70.54, a PEG ratio of 2.50 and a beta of 1.04. The company's 50 day simple moving average is $867.66 and its 200 day simple moving average is $812.35. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $992.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts' consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company earned $7.92 EPS. The company's revenue was up 7.0% on a year-over-year basis. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. This is a boost from Equinix's previous quarterly dividend of $4.69. The ex-dividend date of this dividend is Wednesday, February 25th. Equinix's dividend payout ratio (DPR) is currently 150.11%.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. BMO Capital Markets upped their price target on Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Sanford C. Bernstein initiated coverage on shares of Equinix in a research note on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 target price for the company. TD Cowen restated a "buy" rating on shares of Equinix in a report on Thursday, February 12th. Wall Street Zen cut Equinix from a "hold" rating to a "sell" rating in a research report on Saturday, January 10th. Finally, Scotiabank restated an "outperform" rating on shares of Equinix in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,006.91.

Institutional Investors Weigh In On Equinix

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Equinix by 11.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock worth $425,000 after buying an additional 54 shares during the period. Empowered Funds LLC boosted its holdings in Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock worth $2,487,000 after buying an additional 546 shares during the period. Schnieders Capital Management LLC. purchased a new position in Equinix in the 2nd quarter valued at approximately $231,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Equinix during the 2nd quarter valued at $26,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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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