Equinix (NASDAQ:EQIX) Hits New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EQIX shares. Scotiabank increased 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. Evercore ISI increased their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Up 0.4 %

The stock’s 50 day simple moving average is $895.98 and its two-hundred day simple moving average is $829.37. The firm has a market cap of $94.39 billion, a P/E ratio of 88.21, a P/E/G ratio of 2.51 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated 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 approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This represents a 99.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after buying an additional 2,940 shares in the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after acquiring an additional 879 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equinix during the 3rd quarter valued at about $582,000. Sanctuary Advisors LLC grew its stake in shares of Equinix by 133.9% in the third quarter. Sanctuary Advisors LLC now owns 17,714 shares of the financial services provider’s stock worth $16,587,000 after acquiring an additional 10,140 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in shares of Equinix by 49.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors 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.