Equinix, Inc. (NASDAQ:EQIX) Insider Michael Earl Campbell Sells 1,600 Shares of Stock

Equinix, Inc. (NASDAQ:EQIX – Get Rating) insider Michael Earl Campbell sold 1,600 shares of Equinix stock in a transaction on Monday, May 8th. The shares were sold at an average price of $739.50, for a total value of $1,183,200.00. Following the completion of the transaction, the insider now owns 12,906 shares of the company’s stock, valued at $9,543,987. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Equinix Stock Down 1.6 %

EQIX opened at $728.26 on Wednesday. The business’s 50-day simple moving average is $701.54 and its 200-day simple moving average is $684.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.80 and a current ratio of 2.28. Equinix, Inc. has a one year low of $494.89 and a one year high of $762.51. The stock has a market capitalization of $68.10 billion, a P/E ratio of 82.48, a price-to-earnings-growth ratio of 2.48 and a beta of 0.63.

Equinix (NASDAQ:EQIX – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.00 by ($4.23). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. Equinix had a net margin of 10.84% and a return on equity of 7.20%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $7.16 EPS. Analysts anticipate that Equinix, Inc. will post 27.39 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 24th will be given a $3.41 dividend. This represents a $13.64 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, May 23rd. Equinix’s dividend payout ratio (DPR) is presently 154.47%.

Hedge Funds Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in EQIX. Tanglewood Legacy Advisors LLC acquired a new position in Equinix in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC acquired a new position in Equinix during the 1st quarter worth approximately $28,000. MV Capital Management Inc. increased its position in Equinix by 50.0% during the 4th quarter. MV Capital Management Inc. now owns 48 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 16 shares during the period. Guardian Wealth Advisors LLC acquired a new position in Equinix during the 3rd quarter worth approximately $32,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Equinix by 112.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 51 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EQIX shares. Oppenheimer lifted their target price on Equinix from $750.00 to $760.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. TD Securities lifted their target price on Equinix from $750.00 to $800.00 and gave the company a “hold” rating in a report on Thursday, February 16th. StockNews.com initiated coverage on Equinix in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on Equinix from $702.00 to $714.00 and gave the stock an “equal weight” rating in a report on Thursday, April 20th. Finally, Barclays lifted their price target on Equinix from $687.00 to $700.00 in a report on Thursday, May 4th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $779.41.

Equinix Company Profile

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.