Equinix (NASDAQ:EQIX) Price Target Raised to $1,114.00

Equinix (NASDAQ:EQIX) had its target price increased by Scotiabank from $985.00 to $1,114.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sector outperform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. 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 report on Friday, October 4th. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets increased their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $984.88.

Equinix Trading Down 0.0 %

NASDAQ:EQIX opened at $940.85 on Thursday. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a market cap of $90.78 billion, a P/E ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73. 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 has a 50-day simple moving average of $944.51 and a 200-day simple moving average of $882.05.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,549 shares of company stock valued at $18,036,455. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares during the last quarter. Adelante Capital Management LLC increased its position in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after buying an additional 344,114 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after acquiring an additional 160,906 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.