Equinix, Inc. (NASDAQ:EQIX) Short Interest Update

Equinix, Inc. (NASDAQ:EQIX) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,820,000 shares, a growth of 5.2% from the December 15th total of 1,730,000 shares. Based on an average trading volume of 494,100 shares, the days-to-cover ratio is presently 3.7 days.

Equinix Stock Down 0.5 %

Shares of NASDAQ:EQIX traded down $4.30 during midday trading on Monday, reaching $915.59. The company had a trading volume of 623,359 shares, compared to its average volume of 411,459. The business’s 50 day moving average price is $941.64 and its 200 day moving average price is $877.60. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. 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 market cap of $88.35 billion, a PE ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. The trade was a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,412 shares of company stock valued at $18,826,100 over the last 90 days. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after buying an additional 1,716 shares during the last quarter. Brookfield Corp ON lifted its holdings in Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the period. Duff & Phelps Investment Management Co. increased its holdings 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, Thematics Asset Management raised its position in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on EQIX shares. Scotiabank lifted their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Barclays lifted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, BMO Capital Markets raised their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $976.81.

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.