Equinix (NASDAQ:EQIX) Hits New 1-Year Low at $590.34

Shares of Equinix, Inc. (NASDAQ:EQIXGet Rating) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $590.34 and last traded at $592.16, with a volume of 3038 shares changing hands. The stock had previously closed at $609.26.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Equinix from $775.00 to $760.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Jefferies Financial Group upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $750.00 to $790.00 in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Equinix from $785.00 to $750.00 in a research report on Thursday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Equinix in a research report on Thursday, July 28th. Finally, The Goldman Sachs Group cut their target price on shares of Equinix from $875.00 to $765.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $809.50.

Equinix Price Performance

The company has a market capitalization of $54.05 billion, a P/E ratio of 86.67, a P/E/G ratio of 2.64 and a beta of 0.49. The firm’s fifty day moving average is $663.36 and its 200 day moving average is $682.54. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.04 and a current ratio of 2.04.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th were issued a dividend of $3.10 per share. The ex-dividend date was Tuesday, August 16th. This represents a $12.40 annualized dividend and a yield of 2.09%. Equinix’s payout ratio is 176.39%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 3,356 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the transaction, the insider now directly owns 17,284 shares in the company, valued at approximately $12,274,232.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 3,356 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total value of $2,383,263.40. Following the transaction, the insider now directly owns 17,284 shares in the company, valued at approximately $12,274,232.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 377 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $650.00, for a total transaction of $245,050.00. Following the completion of the transaction, the chief executive officer now owns 7,439 shares in the company, valued at $4,835,350. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,808 shares of company stock worth $3,394,370. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Equinix

Hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new position in shares of Equinix during the second quarter valued at approximately $25,000. Heritage Financial Services LLC bought a new position in shares of Equinix during the second quarter valued at approximately $28,000. HHM Wealth Advisors LLC bought a new position in shares of Equinix during the first quarter valued at approximately $32,000. Vigilant Capital Management LLC bought a new position in shares of Equinix during the second quarter valued at approximately $32,000. Finally, Tompkins Financial Corp bought a new position in shares of Equinix during the second quarter valued at approximately $33,000. 93.82% of the stock is currently owned by institutional investors.

Equinix Company Profile

(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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