ValuEngine Lowers Equinix (NASDAQ:EQIX) to Hold
EQIX has been the subject of several other reports. Argus initiated coverage on Equinix in a research report on Monday, June 3rd. They set a “buy” rating and a $550.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Equinix from $524.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on Equinix from $542.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $520.00 target price on shares of Equinix in a research note on Tuesday, July 2nd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Equinix in a research report on Tuesday. They set an “overweight” rating and a $605.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $533.58.
NASDAQ:EQIX traded down $6.77 during mid-day trading on Tuesday, hitting $531.44. The stock had a trading volume of 441,441 shares, compared to its average volume of 456,404. The stock has a market capitalization of $42.97 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.70. The company has a 50 day simple moving average of $537.88 and a 200-day simple moving average of $490.65. Equinix has a 52 week low of $335.29 and a 52 week high of $567.89. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34.
In other news, insider Brandi Galvin Morandi sold 2,960 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.44, for a total value of $1,528,662.40. Following the sale, the insider now owns 19,253 shares of the company’s stock, valued at approximately $9,943,019.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles J. Meyers sold 1,928 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $558.57, for a total value of $1,076,922.96. Following the completion of the sale, the chief executive officer now owns 7,810 shares of the company’s stock, valued at approximately $4,362,431.70. The disclosure for this sale can be found here. Insiders sold 12,409 shares of company stock valued at $6,727,033 over the last 90 days. 0.49% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Equinix in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in Equinix during the second quarter worth approximately $26,000. Carroll Financial Associates Inc. grew its position in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after buying an additional 21 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Equinix in the second quarter worth approximately $29,000. Finally, Meridian Wealth Management LLC acquired a new position in Equinix in the first quarter worth approximately $28,000. 98.41% of the stock is owned by institutional investors and hedge funds.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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