Equinix Target of Unusually High Options Trading (NASDAQ:EQIX)

Equinix Inc (NASDAQ:EQIX) was the target of unusually large options trading activity on Monday. Traders bought 2,536 call options on the stock. This represents an increase of approximately 988% compared to the typical volume of 233 call options.

Several equities analysts have commented on EQIX shares. UBS Group boosted their price target on shares of Equinix from $510.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank boosted their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Wells Fargo & Co boosted their price target on shares of Equinix from $500.00 to $545.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Equinix from $542.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Citigroup lifted their price objective on shares of Equinix from $508.00 to $527.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Equinix presently has an average rating of “Buy” and an average target price of $527.21.

In other Equinix news, insider Michael Earl Campbell sold 1,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $543.75, for a total value of $543,750.00. Following the completion of the transaction, the insider now owns 2,078 shares in the company, valued at $1,129,912.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,960 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.44, for a total transaction of $1,528,662.40. Following the completion of the transaction, the insider now owns 19,253 shares of the company’s stock, valued at approximately $9,943,019.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,786 shares of company stock valued at $4,156,774. Insiders own 0.49% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. Meeder Asset Management Inc. purchased a new stake in Equinix in the second quarter valued at $26,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Equinix in the second quarter valued at $26,000. Carroll Financial Associates Inc. lifted its position in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 21 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Equinix in the first quarter valued at $28,000. Finally, Johnson Financial Group Inc. purchased a new stake in Equinix in the second quarter valued at $29,000. 95.48% of the stock is owned by hedge funds and other institutional investors.

Equinix stock opened at $547.00 on Wednesday. The stock has a market cap of $44.50 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73. The company has a fifty day simple moving average of $522.22 and a 200-day simple moving average of $475.25. Equinix has a 12-month low of $335.29 and a 12-month high of $557.96. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm posted $3.63 earnings per share. Equinix’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix will post 20.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.80%. Equinix’s dividend payout ratio (DPR) is presently 47.56%.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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