Equinix (NASDAQ:EQIX) Trading Up 0.4% – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX)’s stock price traded up 0.4% on Friday . The company traded as high as $930.76 and last traded at $927.34. 53,207 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 524,936 shares. The stock had previously closed at $923.60.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Stock Up 1.2 %

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 business’s fifty day moving average price is $890.45 and its 200 day moving average price is $822.99. The firm has a market capitalization of $90.15 billion, a price-to-earnings ratio of 84.02, a PEG ratio of 2.32 and a beta of 0.71.

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 given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.82%. Equinix’s payout ratio is currently 153.65%.

Insider Activity

In other news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Simon Miller sold 569 shares of Equinix 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 completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,754 shares of company stock worth $11,666,756. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new position in shares of Equinix in the 1st quarter valued at $31,000. GHP Investment Advisors Inc. lifted its holdings in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its position in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Equinix in the second quarter valued at about $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.