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

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

A number of other research analysts have also weighed in on EQIX. BMO Capital Markets boosted their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price objective on Equinix from $800.00 to $825.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. Stifel Nicolaus reaffirmed a buy rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. HSBC lowered Equinix from a buy rating to a hold rating and set a $900.00 price target for the company. in a report on Wednesday, March 20th. Finally, Royal Bank of Canada raised their price objective on shares of Equinix from $855.00 to $950.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $862.50.

Equinix Price Performance

Shares of Equinix stock opened at $748.00 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $833.57 and a 200-day simple moving average of $801.57. The stock has a market capitalization of $70.78 billion, a price-to-earnings ratio of 72.55, a PEG ratio of 1.90 and a beta of 0.58. Equinix has a 1-year low of $672.88 and a 1-year high of $914.93.

Equinix Announces Dividend

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

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last three months, insiders sold 4,585 shares of company stock valued at $3,818,268. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Braun Stacey Associates Inc. grew its holdings in shares of Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock worth $25,938,000 after purchasing an additional 3,591 shares during the last quarter. Nordea Investment Management AB boosted its position in Equinix by 9.8% in the fourth quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after buying an additional 12,129 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Equinix by 127.8% during 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 buying an additional 787 shares during the last quarter. TIAA Trust National Association increased its holdings in shares of Equinix by 126.8% during the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 2,372 shares in the last quarter. Finally, DNB Asset Management AS raised its stake in shares of Equinix by 20.3% in 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 acquiring an additional 4,132 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.