Equinix (NASDAQ:EQIX) Trading 1.5% Higher – What’s Next?

Equinix, Inc. (NASDAQ:EQIX) shares were up 1.5% during trading on Monday . The stock traded as high as $951.19 and last traded at $950.44. Approximately 136,906 shares were traded during trading, a decline of 74% from the average daily volume of 525,250 shares. The stock had previously closed at $936.37.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank boosted their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Wells Fargo & Company raised their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Stock Up 4.1 %

The stock has a market capitalization of $94.01 billion, a price-to-earnings ratio of 86.01, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $891.74 and a 200 day moving average price of $826.40.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.75%. Equinix’s dividend payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In related news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new position in Equinix during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the 2nd quarter worth $30,000. GHP Investment Advisors Inc. grew its position 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 purchasing an additional 13 shares during the period. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. Institutional investors own 94.94% 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.