Equinix (NASDAQ:EQIX) Trading Down 0.5% – Here’s Why

Equinix, Inc. (NASDAQ:EQIX)’s share price traded down 0.5% during mid-day trading on Monday . The stock traded as low as $958.88 and last traded at $960.57. 105,616 shares were traded during mid-day trading, a decline of 80% from the average session volume of 526,417 shares. The stock had previously closed at $965.00.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research analyst reports. Scotiabank raised their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Four investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Trading Down 3.6 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company’s fifty day simple moving average is $923.43 and its 200-day simple moving average is $849.51. The firm has a market capitalization of $89.38 billion, a PE ratio of 83.53, a P/E/G ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity

In related news, insider Kurt Pletcher sold 222 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now owns 1,015 shares of the company’s stock, valued at approximately $976,633. This represents a 17.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,398 shares of company stock worth $7,906,218 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Large investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. purchased a new position in Equinix in the second quarter worth approximately $742,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Equinix by 6.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 24,159 shares of the financial services provider’s stock worth $18,279,000 after purchasing an additional 1,403 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Equinix during the second quarter worth $595,000. Vicus Capital increased its holdings in Equinix by 32.7% in the second quarter. Vicus Capital now owns 337 shares of the financial services provider’s stock valued at $255,000 after buying an additional 83 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Equinix in the second quarter valued at $65,000. Hedge funds and other 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.