StockNews.com downgraded shares of Equinix (NASDAQ:EQIX – Get Rating) from a buy rating to a hold rating in a report released on Thursday.
A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets cut their price target on Equinix from $680.00 to $660.00 and set a market perform rating for the company in a report on Thursday, November 3rd. Morgan Stanley cut their price target on Equinix from $732.00 to $704.00 and set an equal weight rating for the company in a report on Wednesday, October 26th. Cowen raised Equinix from a market perform rating to an outperform rating and set a $811.00 price target for the company in a report on Tuesday, December 13th. Royal Bank of Canada lifted their price objective on Equinix from $668.00 to $720.00 and gave the company an outperform rating in a research report on Monday, November 14th. Finally, TD Securities downgraded Equinix from a buy rating to a hold rating and set a $750.00 price objective for the company. in a research report on Thursday, December 15th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $757.33.
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Equinix Stock Performance
Shares of EQIX stock opened at $730.22 on Thursday. The stock has a fifty day moving average price of $684.68 and a 200 day moving average price of $644.41. The stock has a market cap of $67.57 billion, a PE ratio of 95.45, a P/E/G ratio of 2.79 and a beta of 0.60. Equinix has a 1 year low of $494.89 and a 1 year high of $776.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.37 and a current ratio of 2.37.
Equinix Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Wednesday, November 16th were paid a $3.10 dividend. This represents a $12.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Tuesday, November 15th. Equinix's dividend payout ratio (DPR) is 162.09%.
Insider Buying and Selling
In related news, Chairman Camp Peter Van sold 462 shares of the business's stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $708.61, for a total value of $327,377.82. Following the transaction, the chairman now owns 7,416 shares in the company, valued at $5,255,051.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 50 shares of the company's stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $658.69, for a total transaction of $32,934.50. Following the sale, the director now owns 17,777 shares in the company, valued at $11,709,532.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 462 shares of the company's stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total value of $327,377.82. Following the sale, the chairman now owns 7,416 shares in the company, valued at approximately $5,255,051.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,747 shares of company stock worth $11,803,531. 0.32% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Equinix
Several institutional investors have recently made changes to their positions in the stock. Strong Tower Advisory Services grew its holdings in shares of Equinix by 2.8% during the fourth quarter. Strong Tower Advisory Services now owns 511 shares of the financial services provider's stock valued at $335,000 after purchasing an additional 14 shares during the last quarter. Greenleaf Trust grew its holdings in Equinix by 1.2% in the 2nd quarter. Greenleaf Trust now owns 1,301 shares of the financial services provider's stock worth $855,000 after buying an additional 16 shares in the last quarter. MV Capital Management Inc. grew its holdings in Equinix by 50.0% in the 4th quarter. MV Capital Management Inc. now owns 48 shares of the financial services provider's stock worth $31,000 after buying an additional 16 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Equinix by 10.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider's stock worth $127,000 after buying an additional 16 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Equinix by 1.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,148 shares of the financial services provider's stock worth $653,000 after buying an additional 19 shares in the last quarter. 92.80% of the stock is owned by institutional investors.
Equinix Company Profile
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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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