Equinix (NASDAQ:EQIX) Trading 4.1% Higher – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX) shares rose 4.1% during trading on Tuesday . The stock traded as high as $976.35 and last traded at $974.35. Approximately 1,977,322 shares changed hands during mid-day trading, an increase of 271% from the average daily volume of 533,316 shares. The stock had previously closed at $936.37.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five equities research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Stock Up 0.1 %

The firm has a market cap of $94.47 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 2.51 and a beta of 0.71. 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 business’s 50-day moving average is $898.34 and its 200-day moving average is $830.42.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis 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 currently 153.65%.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the firm’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 sale, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 in the last three months. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Adelante Capital Management LLC raised its holdings in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after purchasing an additional 160,906 shares during 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.