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

Equinix, Inc. (NASDAQ:EQIX)’s share price rose 0.1% during mid-day trading on Thursday . The stock traded as high as $994.03 and last traded at $979.10. 459,636 shares traded hands during trading, a decline of 14% from the average daily volume of 533,761 shares. The stock had previously closed at $978.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EQIX shares. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Evercore ISI boosted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Scotiabank boosted their price objective on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $952.88.

Equinix Trading Up 0.1 %

The stock has a market cap of $94.47 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71. The firm has a 50-day moving average price of $898.34 and a 200-day moving average price of $830.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Activity at Equinix

In other Equinix news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd increased its stake in Equinix by 140.0% during the first quarter. Plato Investment Management Ltd now owns 132 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 77 shares during the last quarter. LRI Investments LLC purchased a new stake in Equinix in the 1st quarter valued at about $31,000. Atria Investments Inc lifted its position in Equinix by 14.9% in the first quarter. Atria Investments Inc now owns 8,744 shares of the financial services provider’s stock valued at $7,216,000 after buying an additional 1,137 shares during the last quarter. PGGM Investments increased its position in shares of Equinix by 55.8% during the first quarter. PGGM Investments now owns 414,217 shares of the financial services provider’s stock valued at $341,866,000 after acquiring an additional 148,365 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Equinix by 220.6% in the 1st quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock valued at $6,699,000 after acquiring an additional 5,586 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.