Equinix, Inc. (NASDAQ:EQIX - Get Free Report)'s stock price fell 0.5% on Tuesday . The stock traded as low as $960.01 and last traded at $964.58. 56,980 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 528,648 shares. The stock had previously closed at $968.98.
Wall Street Analyst Weigh In
EQIX has been the subject of several research reports. HSBC raised shares of Equinix from a "hold" rating to a "buy" rating and upped their price objective for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Truist Financial boosted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Scotiabank raised 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. Finally, JPMorgan Chase & Co. boosted 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 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $970.38.
Read Our Latest Report on Equinix
Equinix Trading Down 1.2 %
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 business has a 50-day simple moving average of $912.85 and a 200-day simple moving average of $840.99. The company has a market cap of $92.38 billion, a PE ratio of 87.02, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72.
Equinix Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.78%. Equinix's dividend payout ratio (DPR) is presently 153.65%.
Insider Activity
In related news, insider Brandi Galvin Morandi sold 1,726 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. This represents a 20.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares of the company's stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by company insiders.
Institutional Trading of Equinix
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Trust Co. N.A. grew its position in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 11 shares during the last quarter. GS Investments Inc. grew its holdings in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock worth $2,087,000 after purchasing an additional 12 shares during the last quarter. Cypress Capital Group increased its position in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider's stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group lifted its holdings in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 13 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Equinix Company Profile
(
Get Free Report)
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.
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