Equinix (NASDAQ:EQIX) Stock Price Up 0.1% – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares shot up 0.1% during mid-day trading on Friday . The company traded as high as $981.89 and last traded at $974.48. 53,581 shares were traded during trading, a decline of 90% from the average session volume of 528,827 shares. The stock had previously closed at $973.80.

Analysts Set New Price Targets

Several equities analysts have commented on EQIX shares. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Scotiabank upped their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $962.56.

Equinix Stock Performance

The business has a 50-day moving average of $909.18 and a two-hundred day moving average of $837.52. 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 has a market cap of $94.15 billion, a P/E ratio of 87.87, a P/E/G ratio of 2.48 and a beta of 0.72.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,262 shares of company stock worth $8,640,618 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Equinix by 302.7% during 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 purchasing an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Equinix by 89,348.4% during the third 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 period. Adelante Capital Management LLC boosted its position in 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 last quarter. Principal Financial Group Inc. increased 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 during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after buying an additional 160,906 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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.