Equinix (NASDAQ:EQIX) Price Target Raised to $822.00

Equinix (NASDAQ:EQIX) had its target price increased by Barclays from $810.00 to $822.00 in a research note released on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research firms have also weighed in on EQIX. Scotiabank upped their price objective on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. 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. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their price objective for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group upped their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $945.38.

Equinix Trading Up 1.3 %

Shares of EQIX opened at $909.48 on Monday. Equinix has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $87.76 billion, a price-to-earnings ratio of 82.01, a P/E/G ratio of 2.25 and a beta of 0.71. The stock’s 50-day moving average price is $887.12 and its 200 day moving average price is $820.02.

Equinix Dividend Announcement

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 paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction 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 transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 44.80 % 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 valued at $11,666,756 in the last 90 days. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Several hedge funds have recently added to or reduced their stakes in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equinix by 302.7% during the 3rd 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 during the period. Pathway Financial Advisers LLC grew its holdings in shares of 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 acquiring an additional 398,494 shares in the last quarter. Swedbank AB bought a new position in shares of Equinix in the 1st quarter valued at about $294,526,000. Adelante Capital Management LLC grew its holdings in shares of Equinix by 202.3% in 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 in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Institutional investors and hedge funds 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.