Equinix (NASDAQ:EQIX) Given New $1,075.00 Price Target at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its target price reduced by Wells Fargo & Company from $1,100.00 to $1,075.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on EQIX. Scotiabank lifted their target price on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JMP Securities initiated coverage on Equinix in a research report on Monday, January 27th. They issued an “outperform” rating and a $1,200.00 price target for the company. Finally, BMO Capital Markets lifted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $996.06.

Equinix Trading Up 1.0 %

Shares of EQIX stock opened at $924.28 on Tuesday. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s 50-day moving average price is $942.07 and its 200-day moving average price is $888.17. The stock has a market capitalization of $89.18 billion, a price-to-earnings ratio of 83.34, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

Insider Buying and Selling at Equinix

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,823 shares of company stock worth $16,474,442 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Large investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in Equinix in the fourth quarter worth approximately $42,000. 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.