Equinix (NASDAQ:EQIX) Shares Down 0.5% – Should You Sell?

Equinix, Inc. (NASDAQ:EQIX) shares were down 0.5% during mid-day trading on Tuesday . The company traded as low as $960.01 and last traded at $964.58. Approximately 56,980 shares changed hands during trading, a decline of 89% from the average daily volume of 528,648 shares. The stock had previously closed at $968.98.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. Truist Financial upped their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Barclays raised their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. TD Cowen upped their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $970.38.

Equinix Price Performance

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 stock’s fifty day moving average price is $912.85 and its 200-day moving average price is $840.99. The firm has a market cap of $92.38 billion, a PE ratio of 87.02, a P/E/G ratio of 2.54 and a beta of 0.72.

Equinix Announces Dividend

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 given 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 1.78%. Equinix’s payout ratio is 153.65%.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 purchasing an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares during the period. Adelante Capital Management LLC increased its stake in shares of Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Equinix by 104.6% in 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 acquiring an additional 160,906 shares during the last quarter. Hedge funds and other institutional investors 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.