Equinix (NASDAQ:EQIX) Stock Price Up 1.2% – Time to Buy?

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Evercore ISI increased their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Scotiabank boosted their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

Equinix Price Performance

The company’s 50 day simple moving average is $911.22 and its two-hundred day simple moving average is $839.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $95.04 billion, a P/E ratio of 88.82, a PEG ratio of 2.54 and a beta of 0.72.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 1.73%. Equinix’s dividend payout ratio is 153.65%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix 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 sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,262 shares of company stock valued at $8,640,618. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after buying an additional 81,941 shares during the period. Geode Capital Management LLC grew its position in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. increased its stake in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after buying an additional 19,844 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.