Equinix, Inc. (NASDAQ:EQIX) Short Interest Update

Equinix, Inc. (NASDAQ:EQIX) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,330,000 shares, a growth of 14.7% from the September 30th total of 1,160,000 shares. Based on an average trading volume of 433,900 shares, the days-to-cover ratio is presently 3.1 days.

Equinix Stock Up 0.3 %

EQIX stock traded up $2.66 during trading on Thursday, hitting $912.88. 145,018 shares of the company’s stock were exchanged, compared to its average volume of 526,821. The business has a 50-day moving average price of $866.57 and a two-hundred day moving average price of $804.08. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $86.64 billion, a price-to-earnings ratio of 91.30, a PEG ratio of 2.11 and a beta of 0.71. Equinix has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business posted $8.04 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Equinix will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.87%. Equinix’s payout ratio is 170.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EQIX shares. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $934.00.

Insiders Place Their Bets

In related news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock worth $9,071,764 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently modified their holdings of the business. CNB Bank grew its stake in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix in the second quarter valued at $30,000. LRI Investments LLC acquired a new stake in Equinix during the first quarter worth about $31,000. GHP Investment Advisors Inc. raised its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors 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.