Equinix (NASDAQ:EQIX) Shares Up 1.5% – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX) shares shot up 1.5% during trading on Monday . The company traded as high as $951.19 and last traded at $950.44. 136,906 shares traded hands during trading, a decline of 74% from the average session volume of 525,250 shares. The stock had previously closed at $936.37.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent research reports. BMO Capital Markets raised their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price objective for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. 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, Truist Financial lifted their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $952.88.

Equinix Trading Up 4.1 %

The company has a market cap of $94.01 billion, a P/E ratio of 86.01, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. 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 $891.74 and its 200-day moving average price is $826.40.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.75%. Equinix’s dividend payout ratio is currently 153.65%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 over the last three months. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after acquiring an additional 2,940 shares during the last quarter. Cim Investment Management Inc. lifted its position in 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 during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Equinix during the third quarter valued at approximately $582,000. Sanctuary Advisors LLC lifted its holdings in shares of Equinix by 133.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,714 shares of the financial services provider’s stock worth $16,587,000 after acquiring an additional 10,140 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 524 shares during the last quarter. 94.94% of the stock is currently owned by 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.