Short Interest in Equinix, Inc. (NASDAQ:EQIX) Grows By 6.5%

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,650,000 shares, a growth of 6.5% from the November 15th total of 1,550,000 shares. Based on an average daily volume of 481,200 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

EQIX has been the subject of several recent analyst reports. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Evercore ISI boosted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Four research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $976.81.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Equinix by 555.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 389 shares during the period. Raymond James & Associates lifted its position in shares of Equinix by 3.0% in the second quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock valued at $130,819,000 after buying an additional 5,056 shares during the last quarter. BTC Capital Management Inc. boosted its stake in shares of Equinix by 5.2% during the 2nd quarter. BTC Capital Management Inc. now owns 765 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 38 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $742,000. Finally, Nisa Investment Advisors LLC raised its stake in Equinix by 2.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 53,961 shares of the financial services provider’s stock valued at $40,827,000 after acquiring an additional 1,038 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.3 %

Equinix stock traded up $2.86 during mid-day trading on Tuesday, reaching $960.84. The company’s stock had a trading volume of 396,860 shares, compared to its average volume of 527,659. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The business’s 50 day simple moving average is $921.67 and its 200 day simple moving average is $848.11. The company has a market capitalization of $92.71 billion, a price-to-earnings ratio of 86.83, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.77%. Equinix’s dividend payout ratio (DPR) is presently 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.