Equinix (NASDAQ:EQIX) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Equinix (NASDAQ:EQIXGet Rating) from a buy rating to a hold rating in a research note published on Friday.

EQIX has been the topic of several other research reports. Wells Fargo & Company lowered their target price on shares of Equinix from $775.00 to $760.00 and set an overweight rating on the stock in a research note on Monday, July 25th. Jefferies Financial Group upgraded shares of Equinix from a hold rating to a buy rating and upped their target price for the company from $750.00 to $790.00 in a research note on Thursday, June 30th. Oppenheimer upgraded shares of Equinix from a market perform rating to an outperform rating and set a $750.00 target price on the stock in a research note on Thursday, July 28th. Morgan Stanley lowered their target price on shares of Equinix from $773.00 to $732.00 and set an equal weight rating on the stock in a research note on Tuesday, July 26th. Finally, BMO Capital Markets lowered their target price on shares of Equinix from $825.00 to $770.00 in a research note on Thursday, May 26th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of Moderate Buy and an average price target of $818.31.

Equinix Stock Performance

Shares of EQIX stock opened at $697.51 on Friday. Equinix has a one year low of $606.12 and a one year high of $885.26. The company’s 50-day moving average is $660.50 and its 200 day moving average is $692.13. The company has a market capitalization of $63.52 billion, a price-to-earnings ratio of 99.22, a price-to-earnings-growth ratio of 3.10 and a beta of 0.48. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.91 and a current ratio of 2.04.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th will be issued a $3.10 dividend. This represents a $12.40 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, August 16th. Equinix’s dividend payout ratio is 176.39%.

Insider Buying and Selling

In other Equinix news, EVP Jonathan Lin sold 76 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $676.00, for a total transaction of $51,376.00. Following the completion of the sale, the executive vice president now directly owns 5,084 shares of the company’s stock, valued at approximately $3,436,784. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Christopher B. Paisley sold 50 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total value of $32,595.50. Following the completion of the transaction, the director now directly owns 17,563 shares of the company’s stock, valued at $11,449,495.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Lin sold 76 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $676.00, for a total transaction of $51,376.00. Following the completion of the transaction, the executive vice president now directly owns 5,084 shares of the company’s stock, valued at $3,436,784. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,126 shares of company stock valued at $742,362. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Norges Bank bought a new stake in shares of Equinix in the fourth quarter valued at about $625,540,000. BlackRock Inc. grew its stake in Equinix by 5.2% in the fourth quarter. BlackRock Inc. now owns 8,928,856 shares of the financial services provider’s stock valued at $7,552,383,000 after purchasing an additional 441,521 shares during the last quarter. State Street Corp grew its stake in Equinix by 9.6% in the fourth quarter. State Street Corp now owns 4,946,856 shares of the financial services provider’s stock valued at $4,184,249,000 after purchasing an additional 433,155 shares during the last quarter. Vanguard Group Inc. grew its stake in Equinix by 2.0% in the first quarter. Vanguard Group Inc. now owns 11,930,683 shares of the financial services provider’s stock valued at $8,848,034,000 after purchasing an additional 228,639 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in Equinix by 180.6% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 261,334 shares of the financial services provider’s stock valued at $193,811,000 after purchasing an additional 168,186 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

About Equinix

(Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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