Adaire Fox-Martin Sells 1,086 Shares of Equinix (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) CEO Adaire Fox-Martin sold 1,086 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the sale, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at approximately $18,912,398.80. The trade was a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Adaire Fox-Martin also recently made the following trade(s):

• On Friday, January 16th, Adaire Fox-Martin sold 2,670 shares of Equinix stock. The stock was sold at an average price of $804.08, for a total transaction of $2,146,893.60.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $1.57 on Friday, reaching $969.90. 494,928 shares of the company’s stock were exchanged, compared to its average volume of 655,121. 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, Inc. has a twelve month low of $701.41 and a twelve month high of $992.90. The company has a fifty day moving average of $867.66 and a 200-day moving average of $812.35. The company 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.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be issued a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.1%. This is an increase from Equinix’s previous quarterly dividend of $4.69. Equinix’s payout ratio is 150.11%.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. 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 note on Thursday, February 12th. Scotiabank reiterated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. UBS Group raised their target price on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. The Goldman Sachs Group upped their price target on shares of Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Finally, Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,006.91.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Norges Bank acquired a new stake in Equinix in the fourth quarter valued at $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after buying an additional 953,001 shares during the period. SG Americas Securities LLC grew its position in shares of Equinix by 377,167.4% in the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock valued at $549,190,000 after buying an additional 716,618 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after buying an additional 588,967 shares during the period. Finally, Cohen & Steers Inc. raised its position in shares of Equinix by 23.3% during the fourth quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after acquiring an additional 493,141 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.