Traders bought shares of Equinix, Inc. (NASDAQ:EQIX) on weakness during trading hours on Monday. $48.94 million flowed into the stock on the tick-up and $36.09 million flowed out of the stock on the tick-down, for a money net flow of $12.85 million into the stock. Of all equities tracked, Equinix had the 27th highest net in-flow for the day. Equinix traded down ($0.66) for the day and closed at $394.18
A number of equities research analysts have issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and set a $515.00 target price (up previously from $510.00) on shares of Equinix in a report on Thursday, November 2nd. JPMorgan Chase & Co. raised shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price on the stock in a report on Thursday, November 2nd. BidaskClub cut shares of Equinix from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Barclays reissued a “buy” rating and set a $500.00 target price on shares of Equinix in a report on Friday, February 16th. Finally, Cowen reissued a “buy” rating and set a $482.00 target price on shares of Equinix in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $499.00.
The stock has a market capitalization of $31,230.00, a PE ratio of 127.02, a P/E/G ratio of 1.36 and a beta of 0.42. The company has a debt-to-equity ratio of 1.45, a quick ratio of 2.11 and a current ratio of 1.80.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be given a $2.28 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This is a positive change from Equinix’s previous quarterly dividend of $2.00. This represents a $9.12 annualized dividend and a yield of 2.33%. Equinix’s payout ratio is 296.10%.
In related news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $457.84, for a total value of $686,760.00. Following the completion of the transaction, the chief financial officer now directly owns 26,196 shares in the company, valued at $11,993,576.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Camp Peter Van sold 740 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $400.96, for a total transaction of $296,710.40. Following the completion of the transaction, the director now owns 6,542 shares of the company’s stock, valued at $2,623,080.32. The disclosure for this sale can be found here. Insiders sold 25,745 shares of company stock valued at $11,306,215 over the last quarter. 0.58% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in EQIX. Whittier Trust Co. grew its position in Equinix by 191.5% in the fourth quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 157 shares in the last quarter. Zions Bancorporation grew its position in Equinix by 2,550.0% in the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 255 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in Equinix in the fourth quarter worth $121,000. Truewealth LLC purchased a new position in Equinix in the fourth quarter worth $137,000. Finally, Amica Retiree Medical Trust purchased a new position in Equinix in the third quarter worth $188,000. Institutional investors own 94.81% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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