Equinix, Inc. (NASDAQ:EQIX) Short Interest Update

Equinix, Inc. (NASDAQ:EQIX) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,330,000 shares, a growth of 14.7% from the September 30th total of 1,160,000 shares. Based on an average daily volume of 433,900 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. Barclays boosted their price target on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Mizuho upped their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $927.67.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock worth $9,071,764 over the last quarter. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 worth $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after buying an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Equinix by 13.5% in the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after buying an additional 112,194 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Down 0.8 %

NASDAQ EQIX traded down $7.72 on Tuesday, hitting $904.90. 248,920 shares of the stock traded hands, compared to its average volume of 527,203. The stock has a 50-day moving average of $863.21 and a 200 day moving average of $802.33. Equinix has a twelve month low of $684.14 and a twelve month high of $943.02. The company has a market capitalization of $85.88 billion, a P/E ratio of 91.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.04 earnings per share. As a group, analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

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.