Equinix (NASDAQ:EQIX) PT Lowered to $669.00 at Barclays

Equinix (NASDAQ:EQIX) had its target price trimmed by Barclays from $818.00 to $669.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. Stifel Nicolaus reissued a buy rating and set a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. Wolfe Research upgraded Equinix from an underperform rating to a peer perform rating in a report on Tuesday, January 2nd. Morgan Stanley dropped their target price on shares of Equinix from $767.00 to $762.00 and set an equal weight rating for the company in a research report on Thursday, March 28th. HSBC downgraded shares of Equinix from a buy rating to a hold rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company raised their target price on shares of Equinix from $800.00 to $825.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has an average rating of Moderate Buy and a consensus price target of $862.50.

Equinix Stock Up 1.1 %

Shares of NASDAQ EQIX opened at $748.00 on Wednesday. The stock has a market capitalization of $70.78 billion, a PE ratio of 72.55, a P/E/G ratio of 1.90 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average of $833.57 and a 200-day moving average of $801.57. Equinix has a 52-week low of $672.88 and a 52-week high of $914.93.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insiders Place Their Bets

In other news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the sale, the chief executive officer now owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock worth $3,818,268 in the last three months. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EQIX. Braun Stacey Associates Inc. increased its stake in Equinix by 12.5% during the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after purchasing an additional 3,591 shares during the last quarter. Nordea Investment Management AB raised its stake in Equinix by 9.8% during the fourth quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock worth $109,459,000 after acquiring an additional 12,129 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in Equinix by 127.8% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 787 shares during the last quarter. TIAA Trust National Association boosted its stake in Equinix by 126.8% in the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after acquiring an additional 2,372 shares during the period. Finally, DNB Asset Management AS grew its holdings in shares of Equinix by 20.3% during the fourth quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider’s stock valued at $19,699,000 after purchasing an additional 4,132 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

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.