Brandi Galvin Morandi Sells 1,726 Shares of Equinix, Inc. (NASDAQ:EQIX) Stock

Equinix, Inc. (NASDAQ:EQIX) insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now owns 6,505 shares in the company, valued at approximately $5,886,959.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brandi Galvin Morandi also recently made the following trade(s):

• On Friday, October 25th, Brandi Galvin Morandi sold 863 shares of Equinix stock. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00.
• On Tuesday, September 10th, Brandi Galvin Morandi sold 864 shares of Equinix stock. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00.

Equinix Stock Up 0.9 %

NASDAQ:EQIX opened at $895.92 on Tuesday. The company’s 50 day moving average is $871.10 and its two-hundred day moving average is $807.85. The company has a market cap of $86.45 billion, a PE ratio of 80.79, a P/E/G ratio of 2.18 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $943.02.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.04 earnings per share. Analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQIX. Cypress Capital Group raised its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares in the last quarter. MRA Advisory Group increased its holdings in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of several recent research reports. Evercore ISI increased their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $944.63.

About Equinix

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.