Equinix Inc. (NASDAQ:EQIX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $391.07 and last traded at $389.09, with a volume of 161,875 shares changing hands. The stock had previously closed at $389.45.

EQIX has been the subject of a number of research reports. Zacks Investment Research cut shares of Equinix from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Barclays PLC started coverage on shares of Equinix in a report on Monday, March 21st. They set an “equal weight” rating and a $330.00 price target for the company. Citigroup Inc. upped their price target on shares of Equinix from $302.00 to $321.00 and gave the company a “neutral” rating in a report on Sunday, March 13th. Canaccord Genuity upped their price target on shares of Equinix from $370.00 to $390.00 and gave the company a “buy” rating in a report on Monday, May 23rd. Finally, Oppenheimer Holdings Inc. lowered shares of Equinix from an “outperform” rating to a “market perform” rating and set a $325.59 price target for the company. in a report on Monday, March 14th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $357.65.

The company’s 50 day moving average is $372.36 and its 200 day moving average is $327.90. The stock has a market cap of $27.05 billion and a P/E ratio of 298.815.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, May 4th. The company reported $3.08 earnings per share for the quarter, missing the consensus estimate of $3.23 by $0.15. The firm earned $844.20 million during the quarter, compared to analyst estimates of $835.72 million. During the same period last year, the business posted $3.09 EPS. The company’s revenue was up 31.2% on a year-over-year basis. On average, analysts predict that Equinix Inc. will post $14.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 25th were given a dividend of $1.75 per share. The ex-dividend date was Monday, May 23rd. This represents a $7.00 annualized dividend and a dividend yield of 1.80%.

In other news, CEO Stephen M. Smith sold 3,621 shares of Equinix stock in a transaction on Monday, June 6th. The stock was sold at an average price of $368.46, for a total transaction of $1,334,193.66. Following the completion of the sale, the chief executive officer now directly owns 24,888 shares in the company, valued at $9,170,232.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hughes sold 89 shares of Equinix stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $365.55, for a total value of $32,533.95. Following the sale, the director now owns 2,418 shares of the company’s stock, valued at $883,899.90. The disclosure for this sale can be found here.

Several hedge funds have added to or reduced their stakes in EQIX. Stephens Inc. AR increased its stake in Equinix by 8.4% in the fourth quarter. Stephens Inc. AR now owns 16,701 shares of the company’s stock valued at $5,050,000 after buying an additional 1,294 shares during the period. Advantus Capital Management Inc increased its stake in Equinix by 55.1% in the fourth quarter. Advantus Capital Management Inc now owns 88,077 shares of the company’s stock valued at $26,634,000 after buying an additional 31,297 shares during the period. TD Asset Management Inc. increased its stake in Equinix by 10.4% in the fourth quarter. TD Asset Management Inc. now owns 38,604 shares of the company’s stock valued at $11,674,000 after buying an additional 3,644 shares during the period. Public Employees Retirement Association of Colorado increased its stake in Equinix by 3.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 13,843 shares of the company’s stock valued at $4,186,000 after buying an additional 477 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in Equinix by 8.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,860 shares of the company’s stock valued at $2,074,000 after buying an additional 558 shares during the period.

Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.

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