Equinix (NASDAQ:EQIX) Trading Down 0.4% – Here’s What Happened

Equinix, Inc. (NASDAQ:EQIX)’s stock price dropped 0.4% during trading on Tuesday . The stock traded as low as $959.00 and last traded at $960.53. Approximately 75,377 shares traded hands during trading, a decline of 86% from the average daily volume of 531,004 shares. The stock had previously closed at $964.84.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. TD Cowen boosted 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. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. The Goldman Sachs Group increased their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Price Performance

The firm has a market cap of $93.15 billion, a P/E ratio of 86.83, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a fifty day moving average of $902.59 and a 200-day moving average of $833.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 1.29 % 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 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in shares of Equinix by 220.6% during the first quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock valued at $6,699,000 after acquiring an additional 5,586 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Equinix by 69.0% during the first quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 838 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter worth about $30,000. Mather Group LLC. lifted its holdings in Equinix by 3.5% in the second quarter. Mather Group LLC. now owns 1,251 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 42 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its position in Equinix by 42.0% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 269 shares in 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.