Equinix (NASDAQ:EQIX) Stock Price Up 1.1% – What’s Next?

Equinix, Inc. (NASDAQ:EQIX) shares were up 1.1% during trading on Wednesday . The stock traded as high as $994.03 and last traded at $989.23. Approximately 139,870 shares changed hands during trading, a decline of 74% from the average daily volume of 532,325 shares. The stock had previously closed at $978.26.

Analyst Ratings Changes

Several analysts have recently commented on EQIX shares. Scotiabank increased their price target on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Stock Up 0.1 %

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm’s 50 day simple moving average is $900.50 and its 200-day simple moving average is $831.45. The stock has a market capitalization of $94.47 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. Equinix’s dividend payout ratio is presently 153.65%.

Insider Transactions at Equinix

In related news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after purchasing an additional 398,494 shares during the period. Adelante Capital Management LLC boosted its holdings in Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares during the period. Principal Financial Group Inc. boosted its holdings in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the period. 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.