Equinix (NASDAQ:EQIX) Stock Price Down 0.4% – Here’s Why

Equinix, Inc. (NASDAQ:EQIX)’s share price was down 0.4% during trading on Tuesday . The stock traded as low as $959.00 and last traded at $960.53. Approximately 75,377 shares changed 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 Analysts Forecast Growth

A number of research firms have recently weighed in on EQIX. JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial raised their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Stock Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $93.15 billion, a price-to-earnings ratio of 86.83, a P/E/G ratio of 2.53 and a beta of 0.72. The firm has a 50-day moving average of $902.59 and a 200-day moving average of $833.34.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Transactions at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock valued at $11,666,756 over the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Inspire Trust Co. N.A. grew its holdings in shares of Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. GS Investments Inc. boosted its stake in Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares during the period. Cypress Capital Group increased its position in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group raised its stake in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during 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.