Equinix (NASDAQ:EQIX – Get Rating) had its price objective reduced by equities researchers at Citigroup from $810.00 to $750.00 in a note issued to investors on Sunday, The Fly reports. Citigroup’s price objective points to a potential upside of 13.53% from the stock’s current price.
A number of other analysts also recently commented on EQIX. Credit Suisse Group boosted their price target on shares of Equinix from $571.00 to $591.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. The Goldman Sachs Group reduced their price objective on shares of Equinix from $765.00 to $670.00 and set a “buy” rating for the company in a research report on Wednesday, October 12th. BMO Capital Markets reduced their price objective on Equinix from $680.00 to $660.00 and set a “market perform” rating for the company in a research note on Thursday, November 3rd. Wells Fargo & Company dropped their target price on shares of Equinix from $775.00 to $760.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Finally, Raymond James dropped their price target on Equinix from $950.00 to $800.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 11th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $745.47.
Equinix Stock Performance
Shares of EQIX traded up $12.60 during mid-day trading on Friday, reaching $660.60. 664,150 shares of the company’s stock traded hands, compared to its average volume of 537,353. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.04 and a current ratio of 2.37. The business’s 50-day moving average price is $582.79 and its 200-day moving average price is $638.63. The stock has a market capitalization of $61.13 billion, a P/E ratio of 86.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Equinix has a 12 month low of $494.89 and a 12 month high of $853.42.
Insider Buying and Selling at Equinix
In other news, insider Michael Earl Campbell sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $713.17, for a total value of $713,170.00. Following the completion of the transaction, the insider now directly owns 11,044 shares of the company’s stock, valued at approximately $7,876,249.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Brandi Galvin Morandi sold 65 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $549.83, for a total transaction of $35,738.95. Following the completion of the sale, the insider now directly owns 17,285 shares of the company’s stock, valued at $9,503,811.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Earl Campbell sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $713.17, for a total value of $713,170.00. Following the completion of the transaction, the insider now owns 11,044 shares in the company, valued at $7,876,249.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,517 shares of company stock valued at $1,046,846. 0.32% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Equinix
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Envestnet Asset Management Inc. increased its stake in shares of Equinix by 5.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 106,641 shares of the financial services provider’s stock valued at $60,662,000 after acquiring an additional 5,452 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Equinix by 75.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 9,372 shares of the financial services provider’s stock worth $5,331,000 after purchasing an additional 4,034 shares during the period. Dakota Wealth Management boosted its position in shares of Equinix by 0.8% during the third quarter. Dakota Wealth Management now owns 6,362 shares of the financial services provider’s stock worth $3,619,000 after purchasing an additional 48 shares in the last quarter. RFG Advisory LLC acquired a new position in shares of Equinix in the 3rd quarter valued at $324,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Equinix by 7.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 112,457 shares of the financial services provider’s stock worth $63,970,000 after acquiring an additional 7,571 shares in the last quarter. Institutional investors own 93.82% of the company’s stock.
About Equinix
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.