Equinix (NASDAQ:EQIX) Stock Price Down 0.3% – What’s Next?

Equinix, Inc. (NASDAQ:EQIX)’s stock price dropped 0.3% on Wednesday . The stock traded as low as $915.67 and last traded at $920.40. Approximately 47,174 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 524,366 shares. The stock had previously closed at $923.00.

Analyst Ratings Changes

EQIX has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Evercore ISI increased their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen upped their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Up 0.7 %

The stock has a market cap of $89.32 billion, a PE ratio of 83.47, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71. 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 business has a 50-day moving average price of $890.45 and a 200-day moving average price of $822.99.

Equinix Dividend Announcement

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 given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.84%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity

In other Equinix news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 9.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The trade was a 99.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently modified their holdings of EQIX. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter worth $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the 1st quarter worth $31,000. GHP Investment Advisors Inc. increased 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 worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix during the 2nd quarter worth about $36,000. 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.