Equinix (NASDAQ:EQIX) Sets New 12-Month High – Here’s Why

Equinix, Inc. (NASDAQ:EQIX) shares hit a new 52-week high on Monday . The company traded as high as $944.22 and last traded at $941.01, with a volume of 87698 shares trading hands. The stock had previously closed at $936.37.

Analysts Set New Price Targets

A number of research firms have issued reports on EQIX. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Barclays upped their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Trading Up 1.3 %

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 firm has a 50-day moving average price of $891.74 and a 200-day moving average price of $826.40. The company has a market capitalization of $91.48 billion, a price-to-earnings ratio of 85.70, a PEG ratio of 2.41 and a beta of 0.71.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 8.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock valued at $11,666,756 in the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently bought and sold shares of EQIX. LRI Investments LLC acquired a new stake in Equinix during the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix during the 2nd quarter valued at about $30,000. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% in the third 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 in the last quarter. Fortitude Family Office LLC lifted its stake in Equinix by 50.0% during the third 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 period. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares in the last quarter. 94.94% of the stock is currently owned by 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.