Equinix (NASDAQ:EQIX) Trading Up 0.1% – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX)’s stock price shot up 0.1% on Thursday . The stock traded as high as $994.03 and last traded at $979.10. 459,636 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 533,761 shares. The stock had previously closed at $978.26.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several analyst reports. Evercore ISI boosted their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank boosted their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group boosted their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Stock Up 0.2 %

The stock has a market capitalization of $94.70 billion, a price-to-earnings ratio of 88.50, a PEG ratio of 2.52 and a beta of 0.71. The firm has a 50-day moving average of $902.59 and a 200 day moving average of $832.87. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. Equinix’s dividend payout ratio is presently 153.65%.

Insider Buying and Selling

In related news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 99.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix during the second quarter worth $30,000. LRI Investments LLC bought a new stake in shares of Equinix during the 1st quarter worth about $31,000. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Equinix during the second quarter worth approximately $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.