Equinix (NASDAQ:EQIX) Trading 0.4% Higher – Here’s What Happened

Shares of Equinix, Inc. (NASDAQ:EQIX) rose 0.4% on Friday . The stock traded as high as $930.76 and last traded at $927.34. Approximately 53,207 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 524,936 shares. The stock had previously closed at $923.60.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EQIX. Wells Fargo & Company upped their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI boosted their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Trading Up 1.2 %

The company has a 50-day moving average price of $890.45 and a 200 day moving average price of $822.99. The firm has a market cap of $90.15 billion, a price-to-earnings ratio of 84.02, a PEG ratio of 2.32 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. Equinix’s dividend payout ratio is 153.65%.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 44.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock worth $11,666,756 in the last 90 days. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

Hedge funds have recently modified their holdings of the stock. Soltis Investment Advisors LLC raised its position in shares of Equinix by 7.7% in the third quarter. Soltis Investment Advisors LLC now owns 294 shares of the financial services provider’s stock valued at $261,000 after buying an additional 21 shares in the last quarter. Virtue Capital Management LLC increased its holdings in Equinix by 35.2% in the 3rd quarter. Virtue Capital Management LLC now owns 338 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 88 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Equinix by 1.3% in the 3rd quarter. Toronto Dominion Bank now owns 47,520 shares of the financial services provider’s stock worth $42,180,000 after acquiring an additional 604 shares in the last quarter. Chiron Investment Management LLC grew its position in shares of Equinix by 99.5% during the 3rd quarter. Chiron Investment Management LLC now owns 2,380 shares of the financial services provider’s stock worth $2,113,000 after buying an additional 1,187 shares during the period. Finally, Brown Financial Advisors boosted its stake in Equinix by 6.1% during the third quarter. Brown Financial Advisors now owns 1,094 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 63 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.