Equinix (NASDAQ:EQIX) Trading 1.2% Higher – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX)’s share price was up 1.2% during trading on Monday . The stock traded as high as $986.68 and last traded at $985.00. Approximately 541,544 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 531,727 shares. The stock had previously closed at $973.80.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQIX shares. Barclays boosted their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Mizuho boosted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Scotiabank boosted their target price on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Four 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 company’s stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $970.38.

Equinix Stock Performance

The stock’s 50-day moving average is $912.85 and its 200-day moving average is $840.99. The stock has a market cap of $92.80 billion, a price-to-earnings ratio of 86.72, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Insider Activity

In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Large investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its position 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 during the period. Fortitude Family Office LLC increased its position 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 during the period. Meeder Asset Management Inc. acquired a new position in shares of Equinix during the second quarter valued at $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 increased its holdings in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.