Equinix (NASDAQ:EQIX) Trading Up 0.1% - Still a Buy?

Equinix, Inc. (NASDAQ:EQIX - Get Free Report)'s stock price shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $963.34 and last traded at $961.41. 59,628 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 525,869 shares. The stock had previously closed at $960.84.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial upped their price objective on Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Evercore ISI upped their price target on Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a research note on Thursday, September 12th. Wells Fargo & Company upped their target price on shares of Equinix from $985.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Finally, HSBC upgraded shares of Equinix from a "hold" rating to a "buy" rating and increased their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $976.81.

Equinix Stock Down 3.6 %

The firm has a 50-day moving average price of $924.43 and a two-hundred day moving average price of $850.04. The company has a market capitalization of $89.38 billion, a price-to-earnings ratio of 83.53, a PEG ratio of 2.51 and a beta of 0.72. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix's dividend payout ratio is presently 153.65%.

Insider Activity at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,398 shares of company stock valued at $7,906,218. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Equinix

Several large investors have recently made changes to their positions in EQIX. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. acquired a new stake in Equinix in the 2nd quarter valued at about $36,000. Sugarloaf Wealth Management LLC grew its holdings in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, Dunhill Financial LLC increased 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 worth $43,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

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.