Equinix (NASDAQ:EQIX) Trading 0.1% Higher – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares rose 0.1% during trading on Wednesday . The stock traded as high as $963.34 and last traded at $961.41. Approximately 59,628 shares traded hands during trading, a decline of 89% from the average daily volume of 525,869 shares. The stock had previously closed at $960.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQIX shares. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Mizuho lifted their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Evercore ISI lifted 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. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Equinix Trading Down 2.4 %

The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $90.45 billion, a price-to-earnings ratio of 84.53, a P/E/G ratio of 2.51 and a beta of 0.72. The business has a fifty day moving average price of $923.43 and a 200 day moving average price of $849.51.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

A number of hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC grew its position 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 worth $35,000 after acquiring an additional 13 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Equinix in the 2nd quarter valued at approximately $36,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. Finally, Dunhill Financial LLC raised its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares in 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.