Equinix (NASDAQ:EQIX) Price Target Cut to $1,075.00 by Analysts at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its target price lowered by Wells Fargo & Company from $1,100.00 to $1,075.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

EQIX has been the subject of a number of other research reports. JMP Securities started coverage on Equinix in a research report on Monday, January 27th. They set an “outperform” rating and a $1,200.00 price objective for the company. Scotiabank raised their price objective on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday, January 23rd. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $996.06.

Equinix Stock Up 1.0 %

Shares of NASDAQ:EQIX opened at $924.28 on Tuesday. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market capitalization of $89.18 billion, a P/E ratio of 83.34, a P/E/G ratio of 2.18 and a beta of 0.72. The stock has a 50 day moving average price of $942.07 and a 200-day moving average price of $888.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction 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 transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,823 shares of company stock worth $16,474,442. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently bought and sold shares of EQIX. Kestra Investment Management LLC bought a new stake in Equinix during the fourth quarter valued at about $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC raised its holdings in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the period. Finally, Sierra Ocean LLC bought a new stake in Equinix during the fourth quarter valued at about $42,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.