Equinix (NASDAQ:EQIX) Reaches New 12-Month Low at $590.34

Shares of Equinix, Inc. (NASDAQ:EQIXGet Rating) reached a new 52-week low during trading on Friday . The stock traded as low as $590.34 and last traded at $592.16, with a volume of 3038 shares changing hands. The stock had previously closed at $609.26.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQIX. Wells Fargo & Company cut their price objective on shares of Equinix from $775.00 to $760.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. Credit Suisse Group lowered their price objective on shares of Equinix from $718.00 to $716.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Barclays cut shares of Equinix from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $833.00 to $674.00 in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of Equinix from $875.00 to $765.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Finally, Morgan Stanley decreased their price target on shares of Equinix from $773.00 to $732.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 26th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $809.50.

Equinix Trading Down 2.6 %

The company has a market cap of $54.05 billion, a price-to-earnings ratio of 86.67, a P/E/G ratio of 2.64 and a beta of 0.49. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s fifty day moving average price is $663.36 and its 200-day moving average price is $682.54.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 17th were issued a dividend of $3.10 per share. This represents a $12.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, August 16th. Equinix’s dividend payout ratio (DPR) is 176.39%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 3,356 shares of Equinix stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the sale, the insider now directly owns 17,284 shares in the company, valued at $12,274,232.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 3,356 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total value of $2,383,263.40. Following the sale, the insider now directly owns 17,284 shares in the company, valued at $12,274,232.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 377 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $650.00, for a total transaction of $245,050.00. Following the completion of the sale, the chief executive officer now owns 7,439 shares in the company, valued at $4,835,350. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,808 shares of company stock valued at $3,394,370. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new position in Equinix in the 2nd quarter worth about $25,000. Heritage Financial Services LLC purchased a new position in Equinix in the 2nd quarter worth about $28,000. HHM Wealth Advisors LLC purchased a new position in Equinix in the 1st quarter worth about $32,000. Vigilant Capital Management LLC purchased a new position in Equinix in the 2nd quarter worth about $32,000. Finally, Tompkins Financial Corp purchased a new position in Equinix in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.

About Equinix

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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.

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