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Equinix (NASDAQ:EQIX) Downgraded to "Hold" at StockNews.com

Defense World · Jan 26, 2023 03:49

StockNews.com cut shares of Equinix (NASDAQ:EQIX – Get Rating) from a buy rating to a hold rating in a research report released on Thursday morning.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Equinix from $668.00 to $720.00 and gave the company an outperform rating in a research report on Monday, November 14th. Exane BNP Paribas assumed coverage on shares of Equinix in a research note on Wednesday, December 14th. They issued an outperform rating for the company. The Goldman Sachs Group dropped their target price on shares of Equinix from $765.00 to $670.00 and set a buy rating for the company in a research report on Wednesday, October 12th. Credit Suisse Group lifted their price target on shares of Equinix from $571.00 to $591.00 and gave the company a neutral rating in a report on Thursday, November 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Equinix from $675.00 to $785.00 in a report on Wednesday, December 14th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $757.33.

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Equinix Trading Up 0.0 %

Shares of NASDAQ EQIX opened at $719.77 on Thursday. The company's 50 day simple moving average is $681.24 and its 200 day simple moving average is $643.12. Equinix has a fifty-two week low of $494.89 and a fifty-two week high of $776.35. The firm has a market capitalization of $66.61 billion, a P/E ratio of 94.09, a P/E/G ratio of 2.72 and a beta of 0.60. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.37 and a quick ratio of 2.37.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Wednesday, November 16th were paid a dividend of $3.10 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $12.40 dividend on an annualized basis and a dividend yield of 1.72%. Equinix's dividend payout ratio (DPR) is presently 162.09%.

Insider Activity at Equinix

In related news, CEO Charles J. Meyers sold 7,378 shares of the business's stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total transaction of $5,212,188.10. Following the completion of the transaction, the chief executive officer now directly owns 16,599 shares in the company, valued at approximately $11,726,363.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Equinix news, CEO Charles J. Meyers sold 7,378 shares of the company's stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total value of $5,212,188.10. Following the completion of the transaction, the chief executive officer now directly owns 16,599 shares in the company, valued at approximately $11,726,363.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $699.90, for a total value of $1,749,750.00. Following the completion of the transaction, the chief financial officer now owns 18,700 shares of the company's stock, valued at $13,088,130. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,812 shares of company stock worth $11,839,270. 0.32% of the stock is owned by company insiders.

Institutional Trading of Equinix

Hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $25,000. Heritage Financial Services LLC purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $28,000. Better Money Decisions LLC purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $36,000. Guardian Wealth Advisors LLC purchased a new stake in shares of Equinix during the 3rd quarter worth approximately $32,000. Finally, Crewe Advisors LLC raised its holdings in shares of Equinix by 190.0% during the 2nd quarter. Crewe Advisors LLC now owns 58 shares of the financial services provider's stock worth $38,000 after acquiring an additional 38 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

About Equinix

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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.