Equinix, Inc. (NASDAQ:EQIX) Short Interest Up 6.5% in November

Equinix, Inc. (NASDAQ:EQIX) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,650,000 shares, an increase of 6.5% from the November 15th total of 1,550,000 shares. Based on an average trading volume of 481,200 shares, the days-to-cover ratio is currently 3.4 days.

Equinix Stock Performance

EQIX traded up $2.86 during trading on Tuesday, hitting $960.84. The stock had a trading volume of 426,798 shares, compared to its average volume of 527,782. The firm has a market capitalization of $92.71 billion, a P/E ratio of 86.64, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company’s 50-day moving average price is $923.43 and its 200 day moving average price is $849.51.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Insider Transactions at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock valued at $7,906,218 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. Inspire Trust Co. N.A. raised its stake in shares of Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares in the last quarter. GS Investments Inc. lifted its holdings in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 12 shares during the period. Cypress Capital Group lifted its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group boosted its position in shares of Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.