Equinix (NASDAQ:EQIX) Trading Up 0.2% – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX)’s stock price traded up 0.2% during mid-day trading on Friday . The stock traded as high as $979.87 and last traded at $977.12. 46,789 shares were traded during trading, a decline of 91% from the average session volume of 526,779 shares. The stock had previously closed at $975.30.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank raised their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. The Goldman Sachs Group upped their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four 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. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus 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 $919.91 and a 200-day moving average price of $846.12. The firm has a market cap of $93.11 billion, a price-to-earnings ratio of 87.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.77%. Equinix’s dividend payout ratio is currently 153.65%.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Brookfield Corp ON boosted its holdings in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after buying an additional 1,103 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after buying an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management lifted its position in shares of Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after acquiring an additional 6,000 shares during the period. 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.