Equinix, Inc. (NASDAQ:EQIX) Sees Large Growth in Short Interest

Equinix, Inc. (NASDAQ:EQIX) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,820,000 shares, an increase of 5.2% from the December 31st total of 1,730,000 shares. Based on an average daily trading volume, of 494,100 shares, the short-interest ratio is currently 3.7 days.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EQIX shares. Scotiabank increased their price target on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. BMO Capital Markets raised their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Evercore ISI raised 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. Finally, Wells Fargo & Company raised their target price on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.53.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,823 shares of company stock valued at $16,474,442. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares in the last quarter. Brookfield Corp ON grew its stake in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after buying an additional 1,103 shares in the last quarter. Thematics Asset Management grew its stake in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after buying an additional 92,975 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $913.66 on Monday. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a market capitalization of $88.16 billion, a P/E ratio of 82.39, a PEG ratio of 2.16 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm’s 50 day moving average is $943.26 and its 200 day moving average is $886.74.

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.