Equinix (NASDAQ:EQIX) Trading Down 0.3% - Here's What Happened

Equinix, Inc. (NASDAQ:EQIX - Get Free Report)'s share price dropped 0.3% on Wednesday . The stock traded as low as $915.67 and last traded at $920.40. Approximately 47,174 shares traded hands during trading, a decline of 91% from the average daily volume of 524,366 shares. The stock had previously closed at $923.00.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent analyst reports. Cfra reissued a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Scotiabank increased their target price on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. 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. The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $952.88.

Equinix Trading Down 0.7 %

The business has a 50 day moving average of $888.28 and a 200 day moving average of $821.59. The firm has a market capitalization of $88.45 billion, a price-to-earnings ratio of 82.73, a PEG ratio of 2.25 and a beta of 0.71. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix's payout ratio is currently 153.65%.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Monday, November 18th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock valued at $11,666,756 in the last ninety days. 0.27% of the stock is owned by insiders.

Institutional Trading of Equinix

Several hedge funds have recently bought and sold shares of EQIX. Ontario Teachers Pension Plan Board acquired a new position in shares of Equinix during the first quarter worth about $237,000. Edgestream Partners L.P. grew its stake in shares of Equinix by 191.8% during the 1st quarter. Edgestream Partners L.P. now owns 1,360 shares of the financial services provider's stock worth $1,122,000 after acquiring an additional 894 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Equinix by 13.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,793 shares of the financial services provider's stock valued at $5,607,000 after purchasing an additional 793 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider's stock worth $1,854,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its holdings in Equinix by 38.3% during the first quarter. Lake Street Advisors Group LLC now owns 755 shares of the financial services provider's stock worth $623,000 after purchasing an additional 209 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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