Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley Sells 75 Shares

Equinix, Inc. (NASDAQ:EQIX) Director Christopher B. Paisley sold 75 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $786.56, for a total value of $58,992.00. Following the completion of the sale, the director now directly owns 17,841 shares in the company, valued at $14,033,016.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Equinix Stock Up 1.3 %

Shares of EQIX traded up $9.70 during mid-day trading on Monday, reaching $784.34. The company had a trading volume of 270,713 shares, compared to its average volume of 398,016. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a 50-day moving average price of $741.33 and a 200 day moving average price of $757.03. Equinix, Inc. has a 52 week low of $640.92 and a 52 week high of $821.63. The company has a market capitalization of $73.63 billion, a price-to-earnings ratio of 83.29, a price-to-earnings-growth ratio of 1.52 and a beta of 0.62.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a $4.26 dividend. This is a boost from Equinix’s previous quarterly dividend of $3.41. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s payout ratio is currently 183.23%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Equinix from $725.00 to $785.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Scotiabank assumed coverage on Equinix in a research note on Friday, October 13th. They issued a “sector outperform” rating and a $856.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on Equinix from $780.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. TheStreet cut Equinix from a “b-” rating to a “c+” rating in a research note on Friday, October 20th. Finally, StockNews.com assumed coverage on shares of Equinix in a report on Thursday, October 5th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $824.10.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management bought a new position in Equinix in the 3rd quarter valued at approximately $68,000. Integrated Advisors Network LLC lifted its position in Equinix by 1.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,297 shares of the financial services provider’s stock valued at $3,121,000 after acquiring an additional 45 shares in the last quarter. Ashford Capital Management Inc. bought a new position in Equinix in the 3rd quarter valued at approximately $1,394,000. Ranger Global Real Estate Advisors LLC lifted its position in Equinix by 172.1% in the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 27,517 shares of the financial services provider’s stock valued at $19,984,000 after acquiring an additional 17,403 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in Equinix by 32.6% in the 3rd quarter. Harbour Investments Inc. now owns 171 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 42 shares in the last quarter. 93.16% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.