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

Equinix, Inc. (NASDAQ:EQIX) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,610,000 shares, a decrease of 8.0% from the June 30th total of 1,750,000 shares. Based on an average daily volume of 578,800 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EQIX. Royal Bank of Canada dropped their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Barclays increased their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Finally, TD Cowen lowered their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $875.50.

Equinix Stock Performance

Shares of Equinix stock traded up $20.94 during trading hours on Thursday, reaching $811.18. The company had a trading volume of 622,717 shares, compared to its average volume of 569,080. Equinix has a one year low of $677.80 and a one year high of $914.93. The business has a fifty day simple moving average of $769.82 and a 200 day simple moving average of $796.47. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $76.99 billion, a PE ratio of 79.26, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.10%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the business. CNB Bank raised its position in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Equinix in the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix during the second quarter valued at about $30,000. Finally, Criterion Capital Advisors LLC purchased a new stake in Equinix during the fourth quarter valued at about $32,000. 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.