Equinix (NASDAQ:EQIX) Stock Price Up 1.1% – Should You Buy?

Shares of Equinix, Inc. (NASDAQ:EQIX) were up 1.1% during trading on Wednesday . The stock traded as high as $994.03 and last traded at $989.23. Approximately 139,870 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 532,325 shares. The stock had previously closed at $978.26.

Analyst Ratings Changes

Several research firms have recently issued reports on EQIX. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. BMO Capital Markets upped their price objective 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. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Stock Performance

The firm has a 50-day simple moving average of $895.98 and a two-hundred day simple moving average of $829.37. 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 market capitalization of $94.47 billion, a price-to-earnings ratio of 89.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock worth $11,666,756 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GS Investments Inc. grew its position in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 12 shares during the period. Cypress Capital Group boosted its stake in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group lifted its holdings in Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after buying an additional 13 shares during the period. GHP Investment Advisors Inc. lifted 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 valued at $35,000 after buying an additional 13 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in Equinix by 50.0% during 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 last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.