Equinix (NASDAQ:EQIX) Shares Down 0.5% – What’s Next?

Shares of Equinix, Inc. (NASDAQ:EQIX) were down 0.5% during trading on Monday . The company traded as low as $958.88 and last traded at $960.57. Approximately 105,616 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 526,417 shares. The stock had previously closed at $965.00.

Analyst Ratings Changes

A number of research firms have weighed in on EQIX. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial upped their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Equinix Trading Down 0.7 %

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 company has a 50 day simple moving average of $919.91 and a 200 day simple moving average of $846.72. The stock has a market capitalization of $92.43 billion, a PE ratio of 86.62, a P/E/G ratio of 2.51 and a beta of 0.72.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock worth $7,906,218 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently modified their holdings of the business. Inspire Trust Co. N.A. increased its position in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after buying an additional 12 shares during the period. Cypress Capital Group grew its stake in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group raised its holdings in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% during 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. 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.