Equinix (NASDAQ:EQIX) Stock Price Up 0.5% – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX) shares traded up 0.5% during mid-day trading on Tuesday . The stock traded as high as $963.00 and last traded at $963.00. 53,067 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 526,190 shares. The stock had previously closed at $957.98.

Analysts Set New Price Targets

Several brokerages recently commented on EQIX. Truist Financial increased their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Equinix Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $921.67 and a two-hundred day moving average price of $848.11. The company has a market capitalization of $92.78 billion, a price-to-earnings ratio of 86.83, a PEG ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now directly owns 1,015 shares of the company’s stock, valued at $976,633. The trade was a 17.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,398 shares of company stock valued at $7,906,218. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. boosted its position in 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 purchasing an additional 13 shares during the period. Fortitude Family Office LLC boosted its position in 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 acquiring an additional 13 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Equinix in the second quarter worth $36,000. Sugarloaf Wealth Management LLC increased its holdings in shares of 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 during the period. Finally, Dunhill Financial LLC lifted its holdings in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 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.