Insider Buying: Equinix major shareholder Acquires 71,900 Shares of Stock (EQIX)
Equinix (NASDAQ:EQIX) major shareholder Advisory Corp Spo purchased 71,900 shares of the company’s stock on the open market in a transaction dated Wednesday, April 16th. The stock was purchased at an average cost of $171.70 per share, with a total value of $12,345,230.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Equinix (NASDAQ:EQIX) traded up 3.22% during mid-day trading on Wednesday, hitting $179.75. The stock had a trading volume of 1,904,077 shares. Equinix has a 52-week low of $152.82 and a 52-week high of $231.56. The stock has a 50-day moving average of $183. and a 200-day moving average of $175.4. The company has a market cap of $8.880 billion and a P/E ratio of 92.14.
Equinix (NASDAQ:EQIX) last released its earnings data on Wednesday, February 19th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.11. The company had revenue of $564.70 million for the quarter, compared to the consensus estimate of $562.58 million. Analysts expect that Equinix will post $3.58 EPS for the current fiscal year.
A number of analysts have recently weighed in on EQIX shares. Analysts at Oppenheimer upgraded shares of Equinix from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $210.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at EVA Dimensions upgraded shares of Equinix from an “underweight” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Equinix in a research note on Friday, February 21st. They now have a $197.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $220.92.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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