Equinix, Inc. (NASDAQ:EQIX) Sees Significant Increase in Short Interest

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a large growth in short interest in 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 trading volume of 481,200 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Ratings Changes

Several research firms recently weighed in on EQIX. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Mizuho lifted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

Insider Buying and Selling at Equinix

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC raised its position in Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares during the last quarter. Adelante Capital Management LLC lifted its stake in Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX traded up $2.86 during trading on Tuesday, hitting $960.84. The company’s stock had a trading volume of 426,798 shares, compared to its average volume of 527,782. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm’s 50 day moving average price is $923.43 and its two-hundred day moving average price is $849.51. The stock has a market capitalization of $92.71 billion, a price-to-earnings ratio of 86.64, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

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

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.