Equinix Inc. (NASDAQ:EQIX) COO Charles J. Meyers sold 200 shares of Equinix stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $360.63, for a total transaction of $72,126.00. Following the completion of the sale, the chief operating officer now owns 1,445 shares in the company, valued at $521,110.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Equinix Inc. (NASDAQ:EQIX) opened at 351.09 on Monday. Equinix Inc. has a one year low of $255.45 and a one year high of $391.07. The stock’s 50 day moving average is $362.77 and its 200-day moving average is $357.83. The company has a market cap of $24.95 billion, a P/E ratio of 346.58 and a beta of 0.79.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. The firm earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. Equinix had a net margin of 2.07% and a return on equity of 6.02%. The business’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Equities research analysts forecast that Equinix Inc. will post $14.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Wednesday, August 24th were issued a $1.75 dividend. The ex-dividend date was Monday, August 22nd. This represents a $7.00 annualized dividend and a dividend yield of 1.99%. Equinix’s dividend payout ratio is currently 654.21%.
Hedge funds have recently made changes to their positions in the stock. Virginia Retirement System bought a new stake in Equinix during the first quarter worth about $358,000. IFP Advisors Inc increased its stake in Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock worth $103,000 after buying an additional 2 shares during the period. TIAA CREF Investment Management LLC increased its stake in Equinix by 35.5% in the first quarter. TIAA CREF Investment Management LLC now owns 303,283 shares of the company’s stock worth $100,299,000 after buying an additional 79,421 shares during the period. FDO Partners LLC bought a new stake in Equinix during the first quarter worth about $405,000. Finally, Franklin Resources Inc. increased its stake in Equinix by 18.7% in the first quarter. Franklin Resources Inc. now owns 896,957 shares of the company’s stock worth $296,636,000 after buying an additional 141,278 shares during the period. Institutional investors own 99.86% of the company’s stock.
Several brokerages have issued reports on EQIX. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $433.00 price target on the stock in a research note on Tuesday, July 5th. Goldman Sachs Group Inc. started coverage on shares of Equinix in a research note on Tuesday, July 5th. They set a “buy” rating and a $435.00 price objective on the stock. Jefferies Group restated a “buy” rating and set a $380.00 price objective on shares of Equinix in a research note on Wednesday, July 6th. SunTrust Banks Inc. started coverage on shares of Equinix in a research note on Thursday, July 21st. They set a “buy” rating and a $445.00 price objective on the stock. Finally, Pacific Crest restated an “overweight” rating and set a $457.00 price objective on shares of Equinix in a research note on Monday, June 27th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $398.79.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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