Equinix (NASDAQ:EQIX) Trading 1.2% Higher – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares traded up 1.2% during mid-day trading on Monday . The company traded as high as $986.68 and last traded at $985.00. 541,544 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 531,727 shares. The stock had previously closed at $973.80.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $970.38.

Equinix Trading Down 0.7 %

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 business’s fifty day simple moving average is $912.85 and its two-hundred day simple moving average is $840.99. The company has a market cap of $92.80 billion, a price-to-earnings ratio of 86.72, a PEG ratio of 2.54 and a beta of 0.72.

Equinix Announces Dividend

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

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Equinix during the 3rd quarter worth $2,483,000. Inspire Trust Co. N.A. boosted its position in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Equinix by 12.9% in 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 in the last quarter. Cim Investment Management Inc. boosted its position in shares of Equinix by 31.4% in 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 stake in shares of Equinix in the 3rd quarter worth about $582,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.