Equinix, Inc. (NASDAQ:EQIX) Sees Large Increase in Short Interest

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,550,000 shares, an increase of 15.7% from the October 31st total of 1,340,000 shares. Based on an average daily volume of 474,700 shares, the short-interest ratio is presently 3.3 days.

Insider Buying and Selling at Equinix

In other 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 transaction of $467,097.79. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,441 shares of company stock worth $16,188,337 over the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the business. BDF Gestion acquired a new stake in shares of Equinix in the second quarter valued at about $2,659,000. Van ECK Associates Corp grew its position in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Equinix by 3.0% in the second quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock valued at $130,819,000 after purchasing an additional 5,056 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial boosted their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, BMO Capital Markets upped their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $962.56.

Equinix Stock Down 0.1 %

NASDAQ EQIX traded down $1.19 during trading on Tuesday, hitting $963.65. 386,928 shares of the company traded hands, compared to its average volume of 532,407. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The business has a fifty day simple moving average of $905.77 and a 200 day simple moving average of $835.66. 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 company has a market capitalization of $92.98 billion, a P/E ratio of 86.89, a PEG ratio of 2.48 and a beta of 0.72.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued 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 1.77%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

About Equinix

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.