Equinix (NASDAQ:EQIX) Trading Up 0.2% – Still a Buy?

Shares of Equinix, Inc. (NASDAQ:EQIX) traded up 0.2% during trading on Friday . The stock traded as high as $979.87 and last traded at $977.12. 46,789 shares were traded during trading, a decline of 91% from the average session volume of 526,779 shares. The stock had previously closed at $975.30.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EQIX shares. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their price target on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Tuesday. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Equinix Stock Down 0.7 %

The firm has a fifty day moving average price of $918.14 and a 200 day moving average price of $844.20. The company has a market cap of $93.43 billion, a P/E ratio of 88.11, a PEG ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,398 shares of company stock worth $7,906,218. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several hedge funds have recently modified their holdings of the stock. Inspire Trust Co. N.A. grew its holdings in Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. GS Investments Inc. boosted its stake in shares of Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 12 shares during the period. Cypress Capital Group raised its stake in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group boosted its position in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of 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 purchasing an additional 13 shares during the period. 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.