Insider Selling: Equinix (NASDAQ:EQIX) Director Sells $4,077,120.00 in Stock

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

Equinix Stock Performance

Shares of EQIX traded up $12.16 during mid-day trading on Monday, reaching $1,031.44. The company’s stock had a trading volume of 574,331 shares, compared to its average volume of 535,321. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.44. Equinix, Inc. has a 1-year low of $720.62 and a 1-year high of $1,128.68. The business has a 50-day simple moving average of $1,052.32 and a two-hundred day simple moving average of $998.10. The stock has a market cap of $101.77 billion, a P/E ratio of 66.42, a PEG ratio of 2.00 and a beta of 0.99.

Equinix Dividend Announcement

The business also recently declared 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. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix’s payout ratio is 132.90%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EQIX. Avion Wealth increased its stake in shares of 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 purchasing an additional 11 shares during the last quarter. Elevation Wealth Partners LLC increased its position in Equinix by 166.7% in the second quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock worth $25,000 after buying an additional 15 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Equinix in the fourth quarter valued at $30,000. Princeton Global Asset Management LLC lifted its position in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 24 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group raised their price objective on Equinix from $1,210.00 to $1,265.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen upgraded Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays raised their price objective on shares of Equinix from $1,109.00 to $1,130.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald upped their price target on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an “overweight” rating in a research report on Thursday. Two equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,195.00.

About Equinix

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.