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

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,890,000 shares, an increase of 6.2% from the May 15th total of 1,780,000 shares. Based on an average trading volume of 726,200 shares, the short-interest ratio is presently 2.6 days.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of Equinix by 0.5% during the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Norges Bank purchased a new stake in shares of Equinix during the fourth quarter worth about $1,574,132,000. Principal Financial Group Inc. grew its stake in Equinix by 14.9% in the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock worth $1,361,224,000 after purchasing an additional 213,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on EQIX. Stifel Nicolaus restated a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. TD Cowen lowered their target price on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Truist Financial increased their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley decreased their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $872.81.

Equinix Trading Down 0.5 %

NASDAQ:EQIX opened at $762.38 on Tuesday. The business’s 50-day moving average is $755.89 and its two-hundred day moving average is $803.47. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a market capitalization of $72.36 billion, a PE ratio of 76.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

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.