Equinix (NASDAQ:EQIX) Shares Up 1.1% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. The Goldman Sachs Group raised their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. BMO Capital Markets boosted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Five 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 stock. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Price Performance

The stock has a market cap of $94.47 billion, a price-to-earnings ratio of 89.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day simple moving average of $895.98 and a two-hundred day simple moving average of $829.37.

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 given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

A number of large investors have recently made changes to their positions in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 buying an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Swedbank AB bought a new position in Equinix during the first quarter worth about $294,526,000. Adelante Capital Management LLC grew its position in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares in 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.