Equinix, Inc. (NASDAQ:EQIX) Short Interest Update

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,650,000 shares, a growth of 6.5% from the November 15th total of 1,550,000 shares. Based on an average daily volume of 481,200 shares, the days-to-cover ratio is currently 3.4 days.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the company’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 completion of the sale, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Oddo BHF Asset Management Sas acquired a new position in Equinix in the 3rd quarter valued at about $2,483,000. Inspire Trust Co. N.A. grew its holdings in shares of Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares in the last quarter. Tidal Investments LLC increased its stake in Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after buying an additional 2,940 shares during the period. Cim Investment Management Inc. lifted its holdings in Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after buying an additional 879 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Equinix in the 3rd quarter valued at approximately $582,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock traded up $2.86 during mid-day trading on Tuesday, reaching $960.84. The company’s stock had a trading volume of 426,798 shares, compared to its average volume of 527,782. The stock has a market cap of $92.71 billion, a PE ratio of 86.64, a P/E/G ratio of 2.51 and a beta of 0.72. The company’s 50 day moving average is $923.43 and its two-hundred day moving average is $849.51. Equinix has a fifty-two week low of $684.14 and a fifty-two week 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.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Wells Fargo & Company increased their price target on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus boosted their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets increased their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

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.