Equinix, Inc. (NASDAQ:EQIX) Sees Large Increase in Short Interest

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,550,000 shares, a growth of 15.7% from the October 31st total of 1,340,000 shares. Based on an average daily volume of 474,700 shares, the short-interest ratio is presently 3.3 days.

Equinix Stock Down 0.1 %

Shares of NASDAQ EQIX traded down $1.19 during trading on Tuesday, reaching $963.65. 386,928 shares of the stock were exchanged, compared to its average volume of 532,407. The business’s 50-day moving average price is $905.77 and its 200 day moving average price is $835.66. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $92.98 billion, a price-to-earnings ratio of 86.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQIX. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Truist Financial raised their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday. Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $962.56.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 44.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,441 shares of company stock worth $16,188,337 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new stake in shares of Equinix in the third quarter worth $2,483,000. Inspire Trust Co. N.A. increased its stake in Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares during the last quarter. Tidal Investments LLC increased its stake in Equinix by 12.9% during the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock valued at $22,880,000 after purchasing an additional 2,940 shares during the last quarter. Cim Investment Management Inc. increased its stake in Equinix by 31.4% during the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after purchasing an additional 879 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Equinix during the third quarter valued at $582,000. Institutional investors own 94.94% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.