Wells Fargo & Company Boosts Equinix (NASDAQ:EQIX) Price Target to $1,100.00

Equinix (NASDAQ:EQIX - Free Report) had its target price lifted by Wells Fargo & Company from $985.00 to $1,100.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

EQIX has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $970.38.

Equinix Stock Down 0.7 %

Shares of Equinix stock traded down $7.26 during trading on Tuesday, reaching $961.72. 469,414 shares of the company traded hands, compared to its average volume of 530,429. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a 50 day moving average price of $912.85 and a 200-day moving average price of $840.99. The firm has a market capitalization of $92.80 billion, a PE ratio of 86.72, a P/E/G ratio of 2.54 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. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix's dividend payout ratio is currently 153.65%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company's stock, valued at approximately $7,531,365. This trade represents a 9.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares in the company, valued at $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 over the last three months. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% in the third 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 holdings in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC 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. Sugarloaf Wealth Management LLC boosted its holdings in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Equinix in the second quarter valued at $36,000. Finally, Dunhill Financial LLC lifted its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after buying an additional 25 shares during the period. Institutional investors 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.