Equinix, Inc. (NASDAQ:EQIX) Sees Significant Growth in Short Interest

Equinix, Inc. (NASDAQ:EQIX) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,820,000 shares, an increase of 5.2% from the December 15th total of 1,730,000 shares. Based on an average trading volume of 494,100 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Scotiabank boosted their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Three equities research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $4.30 during midday trading on Monday, reaching $915.59. 623,359 shares of the company traded hands, compared to its average volume of 411,459. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. 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 simple moving average is $941.64 and its 200-day simple moving average is $877.60. The firm has a market cap of $88.35 billion, a PE ratio of 82.56, a PEG ratio of 2.12 and a beta of 0.73.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 863 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,412 shares of company stock worth $18,826,100 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently modified their holdings of the company. Verde Capital Management grew its holdings in shares of Equinix by 11.1% during the fourth quarter. Verde Capital Management now owns 2,191 shares of the financial services provider’s stock worth $2,065,000 after purchasing an additional 219 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Equinix by 3.6% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 5,947 shares of the financial services provider’s stock worth $5,608,000 after buying an additional 205 shares in the last quarter. Mutual Advisors LLC grew its holdings in Equinix by 14.5% during the 4th quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 100 shares during the last quarter. Wendell David Associates Inc. increased its position in Equinix by 38.9% in the 4th quarter. Wendell David Associates Inc. now owns 4,101 shares of the financial services provider’s stock valued at $3,867,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Phillips Wealth Planners LLC lifted its position in shares of Equinix by 18.3% during the fourth quarter. Phillips Wealth Planners LLC now owns 725 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.