Equinix (NASDAQ:EQIX) Coverage Initiated at JMP Securities

JMP Securities began coverage on shares of Equinix (NASDAQ:EQIXFree Report) in a report issued on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $1,200.00 price objective on the financial services provider’s stock.

EQIX has been the topic of a number of other research reports. HSBC raised Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Truist Financial boosted their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their target price on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Barclays upped their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.53.

View Our Latest Report on EQIX

Equinix Trading Down 4.3 %

Equinix stock opened at $900.10 on Monday. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. 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 company has a market cap of $86.85 billion, a P/E ratio of 81.16, a P/E/G ratio of 2.20 and a beta of 0.73. The business has a 50-day simple moving average of $944.51 and a two-hundred day simple moving average of $883.61.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction on Thursday, January 16th. The shares were 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 represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,549 shares of company stock valued at $18,036,455. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after buying an additional 81,941 shares during the period. Geode Capital Management LLC raised its stake in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. raised its stake in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Company Profile

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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.

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