Equinix (NASDAQ:EQIX) Stock Price Down 0% – Should You Sell?

Equinix, Inc. (NASDAQ:EQIX)’s stock price was down 0% on Thursday . The stock traded as low as $953.74 and last traded at $965.54. Approximately 70,274 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 529,461 shares. The stock had previously closed at $965.64.

Analyst Ratings Changes

Several analysts recently weighed in on EQIX shares. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Price Performance

The stock’s fifty day moving average price is $909.18 and its 200-day moving average price is $837.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $95.04 billion, a price-to-earnings ratio of 88.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.73%. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity

In related news, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares of the company’s stock, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,262 shares of company stock worth $8,640,618 over the last 90 days. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas bought a new stake in Equinix in the third quarter worth approximately $2,483,000. Inspire Trust Co. N.A. grew its position in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 11 shares in the last quarter. Tidal Investments LLC grew its position in Equinix by 12.9% in the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after acquiring an additional 2,940 shares in the last quarter. Cim Investment Management Inc. grew its position in Equinix by 31.4% in the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after acquiring an additional 879 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Equinix in the third quarter worth approximately $582,000. 94.94% of the stock is owned by 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.