Equinix (NASDAQ:EQIX) Shares Up 0.5% - Should You Buy?

Equinix, Inc. (NASDAQ:EQIX - Get Free Report)'s share price was up 0.5% during mid-day trading on Tuesday . The company traded as high as $963.00 and last traded at $963.00. Approximately 53,067 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 526,190 shares. The stock had previously closed at $957.98.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 4th. Finally, Mizuho lifted 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. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and an average price target of $976.81.

Equinix Stock Performance

The firm has a market capitalization of $92.71 billion, a P/E ratio of 86.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The business's 50 day simple moving average is $923.43 and its two-hundred day simple moving average is $849.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. Equinix's dividend payout ratio (DPR) is 153.65%.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 8,231 shares of the company's stock, valued at $7,531,365. The trade was a 9.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now owns 1,015 shares in the company, valued at $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,398 shares of company stock worth $7,906,218. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock worth $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Adelante Capital Management LLC boosted its position in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock valued at $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock valued at $238,133,000 after purchasing an additional 160,906 shares in the last quarter. 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.