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

Equinix, Inc. (NASDAQ:EQIX) insider Jonathan Lin sold 635 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.71, for a total value of $613,225.85. Following the sale, the insider directly owned 10,788 shares in the company, valued at $10,418,079.48. This trade represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

Equinix Price Performance

Shares of EQIX traded down $1.57 during midday trading on Friday, hitting $969.90. 494,928 shares of the company traded hands, compared to its average volume of 655,121. Equinix, Inc. has a one year low of $701.41 and a one year high of $992.90. The firm has a market cap of $95.29 billion, a P/E ratio of 70.54, a PEG ratio of 2.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a 50-day moving average of $867.66 and a 200-day moving average of $812.35.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $7.92 EPS. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be given a dividend of $5.16 per share. This is an increase from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix’s dividend payout ratio (DPR) is presently 150.11%.

Hedge Funds Weigh In On Equinix

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Equinix by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock valued at $10,265,706,000 after purchasing an additional 107,227 shares during the last quarter. State Street Corp raised its stake in Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after buying an additional 588,967 shares during the period. Cohen & Steers Inc. boosted its position in Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock valued at $1,998,978,000 after acquiring an additional 493,141 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Equinix by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock valued at $1,959,731,000 after acquiring an additional 25,383 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Scotiabank reaffirmed an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Jefferies Financial Group lifted their price target on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. HSBC set a $1,050.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,006.91.

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.