Equinix (NASDAQ:EQIX) Stock Price Up 0.2% – What’s Next?

Equinix, Inc. (NASDAQ:EQIX)’s stock price traded up 0.2% during mid-day 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. JPMorgan Chase & Co. upped their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Four equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Stock Performance

The company’s fifty day moving average price is $919.91 and its two-hundred day moving average price is $846.12. 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 firm has a market capitalization of $93.11 billion, a PE ratio of 87.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

A number of institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its position in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Equinix in the 2nd quarter worth approximately $36,000. Sugarloaf Wealth Management LLC grew its position in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Finally, Dunhill Financial LLC raised its stake in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.