Equinix Inc. (EQIX) CFO Sells $341,750.00 in Stock
Equinix Inc. (NASDAQ:EQIX) CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $341.75, for a total value of $341,750.00. Following the completion of the transaction, the chief financial officer now owns 40,246 shares of the company’s stock, valued at $13,754,070.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Equinix Inc. (NASDAQ:EQIX) traded up 0.63% during trading on Tuesday, hitting $343.39. The stock had a trading volume of 431,992 shares. Equinix Inc. has a 1-year low of $255.45 and a 1-year high of $391.07. The firm’s 50 day moving average is $0.00 and its 200 day moving average is $0.00.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 2nd. The company reported $3.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.85 by $0.10. The company earned $924.68 million during the quarter, compared to analyst estimates of $919.73 million. Equinix had a return on equity of 3.68% and a net margin of 2.23%. Equinix’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts expect that Equinix Inc. will post $14.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 16th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, November 14th. Equinix’s dividend payout ratio (DPR) is 648.15%.
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Institutional investors have recently made changes to their positions in the stock. Gerstein Fisher purchased a new position in shares of Equinix during the second quarter valued at $1,190,000. Duff & Phelps Investment Management Co. purchased a new position in shares of Equinix during the second quarter valued at $79,003,000. Retirement Systems of Alabama raised its position in shares of Equinix by 1.5% in the second quarter. Retirement Systems of Alabama now owns 35,395 shares of the company’s stock valued at $13,724,000 after buying an additional 538 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Equinix by 37.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,939 shares of the company’s stock valued at $10,057,000 after buying an additional 7,012 shares during the period. Finally, Resolution Capital Ltd raised its position in shares of Equinix by 9.9% in the second quarter. Resolution Capital Ltd now owns 300,892 shares of the company’s stock valued at $116,665,000 after buying an additional 27,142 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on EQIX. Oppenheimer Holdings Inc. upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Tuesday, September 6th. Barclays PLC raised their price target on Equinix from $360.00 to $372.00 and gave the company an “equal weight” rating in a research note on Thursday, August 4th. Citigroup Inc. raised their price target on Equinix from $391.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. Pacific Crest restated a “buy” rating on shares of Equinix in a research note on Wednesday, August 24th. Finally, Zacks Investment Research downgraded Equinix from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Equinix presently has a consensus rating of “Buy” and a consensus price target of $401.97.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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