Short Interest in Equinix, Inc. (NASDAQ:EQIX) Rises By 14.7%

Equinix, Inc. (NASDAQ:EQIX) saw a significant growth in short interest in 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 daily volume of 433,900 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

Several research firms recently weighed in on EQIX. Mizuho raised 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. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. BMO Capital Markets lifted their target price on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $934.00.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,906 shares of company stock worth $9,071,764. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares during the period. Finally, Centersquare Investment Management LLC raised its holdings in shares of Equinix by 13.5% in the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after acquiring an additional 112,194 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 0.4 %

Shares of EQIX traded down $3.76 during mid-day trading on Thursday, reaching $906.46. 111,396 shares of the company’s stock traded hands, compared to its average volume of 526,417. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50-day moving average is $866.57 and its two-hundred day moving average is $804.08. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a market cap of $86.03 billion, a P/E ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $8.04 EPS. Research analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.88%. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.