Equinix (NASDAQ:EQIX) Stock Price Up 0.4% – Here’s What Happened

Equinix, Inc. (NASDAQ:EQIX)’s stock price was up 0.4% on Friday . The stock traded as high as $930.76 and last traded at $927.34. Approximately 53,207 shares were traded during trading, a decline of 90% from the average daily volume of 524,936 shares. The stock had previously closed at $923.60.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EQIX shares. Scotiabank raised their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Barclays raised their price target 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. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Price Performance

The company has a market cap of $90.35 billion, a price-to-earnings ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50 day moving average price is $891.74 and its 200 day moving average price is $825.46.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.82%. Equinix’s dividend payout ratio is 153.65%.

Insider Activity

In other news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently modified their holdings of EQIX. State Street Corp increased its stake in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the period. Geode Capital Management LLC boosted its holdings in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. increased its position in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. Dimensional Fund Advisors LP raised its holdings in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the period. Institutional investors and hedge funds 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.