Short Interest in Equinix, Inc. (NASDAQ:EQIX) Rises By 14.7%

Equinix, Inc. (NASDAQ:EQIX) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,330,000 shares, an increase of 14.7% from the September 30th total of 1,160,000 shares. Based on an average daily volume of 433,900 shares, the short-interest ratio is currently 3.1 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Mizuho upped their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $934.00.

Insider Transactions at Equinix

In other Equinix news, 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 completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the firm’s 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 completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,906 shares of company stock valued at $9,071,764. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in shares of Equinix by 2.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,331 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 34 shares during the last quarter. Catalina Capital Group LLC boosted its position in shares of Equinix by 11.9% during the 3rd quarter. Catalina Capital Group LLC now owns 329 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 35 shares during the period. Austin Private Wealth LLC acquired a new stake in Equinix in the 3rd quarter valued at approximately $222,000. Arthur M. Cohen & Associates LLC raised its position in Equinix by 22.5% in the third quarter. Arthur M. Cohen & Associates LLC now owns 2,398 shares of the financial services provider’s stock valued at $2,117,000 after purchasing an additional 441 shares during the period. Finally, Red Cedar Investment Management LLC lifted its stake in Equinix by 65.0% during the third quarter. Red Cedar Investment Management LLC now owns 3,215 shares of the financial services provider’s stock worth $2,854,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock traded down $3.76 during trading hours on Thursday, reaching $906.46. 111,396 shares of the company’s stock were exchanged, compared to its average volume of 526,417. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a market capitalization of $86.03 billion, a P/E ratio of 91.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $866.57 and a two-hundred day moving average of $804.08.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.88%. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.