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

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective 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. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen upped their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Price Performance

The business’s 50 day simple moving average is $924.43 and its 200-day simple moving average is $850.04. The stock has a market capitalization of $88.92 billion, a price-to-earnings ratio of 83.10, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.85%. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock valued at $7,906,218 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

A number of institutional investors have recently modified their holdings of EQIX. Van ECK Associates Corp raised its stake in Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares during the last quarter. Brookfield Corp ON grew its position in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares during the period. Finally, Thematics Asset Management increased its position in Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after acquiring an additional 6,000 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.