Equinix (NASDAQ:EQIX) Shares Down 0.5% – Should You Sell?

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. 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 boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Four equities 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $976.81.

Equinix Price Performance

The company has a market cap of $89.38 billion, a price-to-earnings ratio of 83.53, a PEG ratio of 2.51 and a beta of 0.72. The company’s 50 day moving average price is $923.43 and its 200 day moving average price is $849.51. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % 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 three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. purchased a new position in Equinix during the 2nd quarter valued at about $742,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Equinix by 6.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,159 shares of the financial services provider’s stock valued at $18,279,000 after purchasing an additional 1,403 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Equinix during the 2nd quarter worth approximately $595,000. Vicus Capital lifted its stake in Equinix by 32.7% in the 2nd quarter. Vicus Capital now owns 337 shares of the financial services provider’s stock valued at $255,000 after buying an additional 83 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Equinix during the second quarter worth $65,000. 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.