Equinix (NASDAQ:EQIX) Stock Price Up 4.1% – What’s Next?

Equinix, Inc. (NASDAQ:EQIX)’s share price rose 4.1% during mid-day trading on Tuesday . The stock traded as high as $976.35 and last traded at $974.35. Approximately 1,977,322 shares changed hands during trading, an increase of 271% from the average daily volume of 533,316 shares. The stock had previously closed at $936.37.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI increased their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets raised their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $952.88.

Equinix Stock Performance

The stock has a market cap of $94.47 billion, a price-to-earnings ratio of 88.29, a P/E/G ratio of 2.51 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 stock’s 50-day moving average is $898.34 and its 200-day moving average is $830.42.

Equinix Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Activity at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the second quarter worth about $30,000. LRI Investments LLC acquired a new position in shares of Equinix in the 1st quarter valued at approximately $31,000. GHP Investment Advisors Inc. boosted its stake 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 last quarter. Fortitude Family Office LLC grew its position in shares of 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 buying an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Equinix in the second quarter worth $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.