Equinix (NASDAQ:EQIX) Trading Up 0.5% – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares rose 0.5% during trading on Tuesday . The company traded as high as $963.00 and last traded at $963.00. Approximately 53,067 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 526,190 shares. The stock had previously closed at $957.98.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQIX. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Barclays upped their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Scotiabank upped their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Trading Up 0.4 %

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 company has a market cap of $92.78 billion, a price-to-earnings ratio of 86.83, a PEG ratio of 2.51 and a beta of 0.72. The firm has a 50 day moving average price of $921.67 and a two-hundred day moving average price of $848.11.

Equinix Announces Dividend

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

Insider Activity

In related news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Equinix by 302.7% in 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 valued at $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the last quarter. Adelante Capital Management LLC raised its stake in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. Principal Financial Group Inc. raised its stake in 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 during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the last quarter. Institutional investors and hedge funds 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.