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

Equinix, Inc. (NASDAQ:EQIX) insider Michael Earl Campbell sold 600 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $780.66, for a total value of $468,396.00. Following the transaction, the insider now owns 12,081 shares of the company’s stock, valued at $9,431,153.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Equinix Price Performance

Shares of EQIX traded up $9.70 during trading hours on Monday, reaching $784.34. The company had a trading volume of 270,713 shares, compared to its average volume of 398,016. The firm has a 50 day simple moving average of $741.33 and a 200-day simple moving average of $757.03. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $73.63 billion, a price-to-earnings ratio of 83.29, a PEG ratio of 1.52 and a beta of 0.62. Equinix, Inc. has a 12-month low of $640.92 and a 12-month high of $821.63.

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 issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Tuesday, November 14th. This is an increase from Equinix’s previous quarterly dividend of $3.41. Equinix’s dividend payout ratio (DPR) is currently 183.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. StockNews.com began coverage on Equinix in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company lowered their price target on Equinix from $810.00 to $740.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. JPMorgan Chase & Co. raised their price target on Equinix from $825.00 to $900.00 in a research report on Friday, August 4th. Raymond James lifted their price target on shares of Equinix from $885.00 to $910.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. Finally, TheStreet downgraded Equinix from a “b-” rating to a “c+” rating in a report on Friday, October 20th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $824.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EQIX. Venturi Wealth Management LLC purchased a new position in shares of Equinix in the first quarter valued at $28,000. Providence Capital Advisors LLC purchased a new position in Equinix during the third quarter worth $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Equinix by 65.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 38 shares of the financial services provider’s stock worth $30,000 after buying an additional 15 shares in the last quarter. Larson Financial Group LLC increased its position in Equinix by 485.7% during the second quarter. Larson Financial Group LLC now owns 41 shares of the financial services provider’s stock worth $32,000 after buying an additional 34 shares in the last quarter. Finally, Operose Advisors LLC purchased a new position in Equinix during the third quarter worth $36,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

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.