Traders Buy Shares of Equinix (EQIX) on Weakness
Traders purchased shares of Equinix, Inc. (NASDAQ:EQIX) on weakness during trading hours on Wednesday. $113.55 million flowed into the stock on the tick-up and $59.53 million flowed out of the stock on the tick-down, for a money net flow of $54.02 million into the stock. Of all equities tracked, Equinix had the 20th highest net in-flow for the day. Equinix traded down ($12.98) for the day and closed at $443.00
Several brokerages recently weighed in on EQIX. Oppenheimer upped their price target on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Bank of America reaffirmed a “buy” rating and issued a $520.00 price target (up from $450.21) on shares of Equinix in a research note on Wednesday, December 13th. Berenberg Bank began coverage on Equinix in a research note on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $515.00 price target (up from $510.00) on shares of Equinix in a research note on Thursday, November 2nd. Finally, Citigroup increased their target price on Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $502.95.
The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market cap of $35,670.00, a PE ratio of 143.83, a P/E/G ratio of 1.56 and a beta of 0.46.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, November 14th. This represents a $8.00 annualized dividend and a dividend yield of 1.81%. Equinix’s dividend payout ratio (DPR) is presently 259.74%.
In related news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $476.81, for a total transaction of $953,620.00. Following the sale, the chief financial officer now directly owns 27,996 shares of the company’s stock, valued at $13,348,772.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $463.61, for a total value of $92,722.00. The disclosure for this sale can be found here. Insiders have sold 6,193 shares of company stock worth $2,892,191 over the last ninety days. 0.58% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Equinix by 0.4% in the second quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock valued at $1,174,868,000 after acquiring an additional 10,307 shares during the period. Principal Financial Group Inc. lifted its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock valued at $847,345,000 after acquiring an additional 6,178 shares during the period. Edgewood Management LLC lifted its holdings in Equinix by 1.0% in the third quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock valued at $831,358,000 after acquiring an additional 18,248 shares during the period. Bank of New York Mellon Corp lifted its holdings in Equinix by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 1,493,095 shares of the financial services provider’s stock valued at $666,367,000 after acquiring an additional 108,231 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Equinix by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,092,554 shares of the financial services provider’s stock valued at $487,600,000 after acquiring an additional 24,433 shares during the period. 94.16% of the stock is currently owned by institutional investors.
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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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