Short Interest in Equinix, Inc. (NASDAQ:EQIX) Grows 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 trading volume of 433,900 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EQIX shares. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial boosted their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen upped their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $934.00.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock valued at $9,071,764 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pathway Financial Advisers LLC increased its stake in shares of Equinix by 89,348.4% during the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the period. Swedbank AB acquired a new position in Equinix in the 1st quarter valued at $294,526,000. Principal Financial Group Inc. lifted its stake in 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 valued at $1,428,606,000 after purchasing an additional 238,883 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. Finally, M&G Plc acquired a new position in Equinix in the 1st quarter worth about $187,089,000. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 0.3 %

NASDAQ EQIX traded up $2.66 during trading on Thursday, reaching $912.88. 145,018 shares of the stock traded hands, compared to its average volume of 526,821. The stock’s 50-day moving average price is $866.57 and its 200 day moving average price is $804.08. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $86.64 billion, a price-to-earnings ratio of 91.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $943.02.

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

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio 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.