Equinix (NASDAQ:EQIX) Shares Up 0.1% – Here’s What Happened

Shares of Equinix, Inc. (NASDAQ:EQIX) rose 0.1% during trading on Thursday . The stock traded as high as $994.03 and last traded at $979.10. Approximately 459,636 shares were traded during trading, a decline of 14% from the average daily volume of 533,761 shares. The stock had previously closed at $978.26.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Evercore ISI upped their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price objective 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. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Performance

The company has a market cap of $94.47 billion, a P/E ratio of 88.29, a price-to-earnings-growth ratio of 2.51 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. The stock’s 50-day moving average price is $898.34 and its 200 day moving average price is $830.42.

Equinix Dividend Announcement

The business 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 $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 44.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Hedge funds have recently bought and sold shares of the business. Plato Investment Management Ltd boosted its stake in Equinix by 140.0% during the 1st quarter. Plato Investment Management Ltd now owns 132 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 77 shares during the last quarter. LRI Investments LLC purchased a new stake in Equinix in the 1st quarter valued at $31,000. Atria Investments Inc lifted its stake in Equinix by 14.9% during the 1st quarter. Atria Investments Inc now owns 8,744 shares of the financial services provider’s stock valued at $7,216,000 after acquiring an additional 1,137 shares in the last quarter. PGGM Investments raised its holdings in shares of Equinix by 55.8% in the first quarter. PGGM Investments now owns 414,217 shares of the financial services provider’s stock valued at $341,866,000 after purchasing an additional 148,365 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Equinix by 220.6% during the first quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock worth $6,699,000 after purchasing an additional 5,586 shares during the last quarter. Institutional investors and hedge funds 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.