Stock Traders Buy Large Volume of Put Options on Equinix (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) was the target of some unusual options trading activity on Monday. Investors bought 3,000 put options on the stock. This represents an increase of 900% compared to the average daily volume of 300 put options.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’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 transaction, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,398 shares of company stock worth $7,906,218. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC raised its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Equinix in the 2nd quarter valued at $36,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, Dunhill Financial LLC increased its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Truist Financial increased their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Price Performance

Shares of EQIX stock traded down $0.29 during trading hours on Monday, reaching $926.93. The company had a trading volume of 36,547 shares, compared to its average volume of 530,551. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $89.44 billion, a price-to-earnings ratio of 83.58, a PEG ratio of 2.51 and a beta of 0.72. The stock has a fifty day moving average of $926.56 and a 200-day moving average of $852.37.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

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.