Equinix (NASDAQ:EQIX) Shares Up 1.2% on Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) shares rose 1.2% during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $936.00 to $1,025.00. Royal Bank of Canada currently has an outperform rating on the stock. Equinix traded as high as $986.50 and last traded at $985.47. Approximately 46,647 shares were traded during trading, a decline of 91% from the average daily volume of 527,747 shares. The stock had previously closed at $973.57.

A number of other analysts have also recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft upped 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. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a research note on Thursday, September 12th. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Scotiabank increased their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research report on Thursday, October 31st. Finally, Cfra reiterated a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. 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 stock. According to data from MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and a consensus price target of $976.81.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company's stock, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock worth $7,906,218 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. lifted its holdings in 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 acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC grew its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Equinix in the second quarter valued at $36,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.2 %

The company has a market capitalization of $94.10 billion, a price-to-earnings ratio of 87.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. 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 moving average price of $916.16 and a 200-day moving average price of $843.28.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.75%. Equinix's payout ratio is presently 153.65%.

Equinix Company Profile

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.