Equinix (NASDAQ:EQIX) Trading 3.2% Higher

Equinix, Inc. (NASDAQ:EQIX - Get Free Report)'s share price traded up 3.2% during trading on Tuesday . The stock traded as high as $859.49 and last traded at $858.03. 116,678 shares were traded during mid-day trading, a decline of 79% from the average session volume of 546,296 shares. The stock had previously closed at $831.80.

Analyst Ratings Changes

EQIX has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They issued a "buy" rating and a $870.00 target price for the company. Royal Bank of Canada dropped their price objective on Equinix from $950.00 to $922.00 and set an "outperform" rating for the company in a report on Tuesday, May 28th. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their price target on Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Finally, Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the company an "equal weight" rating in a research note on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $876.71.

Equinix Price Performance

The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 85.25, a PEG ratio of 1.99 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $802.19 and a two-hundred day moving average price of $793.22.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm's revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $8.04 EPS. As a group, research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.97%. Equinix's dividend payout ratio (DPR) is 170.91%.

Insider Activity at Equinix

In other news, insider Meredith Williamson sold 576 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 9,179 shares of company stock worth $7,547,719 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Private Advisor Group LLC grew its position in Equinix by 18.9% during the fourth quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider's stock valued at $711,000 after purchasing an additional 140 shares in the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of Equinix in the fourth quarter worth $581,000. Principal Securities Inc. purchased a new stake in shares of Equinix during the fourth quarter worth $344,000. Cary Street Partners Investment Advisory LLC boosted its position in Equinix by 442.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 510 shares of the financial services provider's stock valued at $411,000 after purchasing an additional 416 shares during the last quarter. Finally, Dana Investment Advisors Inc. purchased a new position in Equinix in the fourth quarter valued at about $207,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

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