Equinix (NASDAQ:EQIX) Stock Price Up 1.2% on Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX)’s share price rose 1.2% on Thursday after Royal Bank of Canada raised their price target on the stock from $936.00 to $1,025.00. Royal Bank of Canada currently has an outperform rating on the stock. Equinix traded as high as $986.50 and last traded at $985.47. Approximately 46,647 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 527,747 shares. The stock had previously closed at $973.57.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial increased their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,500 shares of the company’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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC boosted its position in Equinix by 2.4% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 879 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 21 shares in the last quarter. Verde Capital Management grew its stake in Equinix by 31.8% in the second quarter. Verde Capital Management now owns 1,756 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 424 shares during the period. S.E.E.D. Planning Group LLC raised its holdings in Equinix by 29.8% in the second quarter. S.E.E.D. Planning Group LLC now owns 2,826 shares of the financial services provider’s stock worth $2,138,000 after purchasing an additional 648 shares in the last quarter. Blue Trust Inc. lifted its position in Equinix by 555.7% during the second quarter. Blue Trust Inc. now owns 459 shares of the financial services provider’s stock valued at $379,000 after buying an additional 389 shares during the period. Finally, Gradient Investments LLC boosted its holdings in shares of Equinix by 19.6% during the 2nd quarter. Gradient Investments LLC now owns 15,011 shares of the financial services provider’s stock valued at $11,357,000 after buying an additional 2,461 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 1.2 %

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 stock’s 50-day moving average price is $916.16 and its two-hundred day moving average price is $843.28. The stock has a market capitalization of $95.09 billion, a PE ratio of 88.86, a P/E/G ratio of 2.54 and a beta of 0.72.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

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.