Equinix, Inc. (NASDAQ:EQIX) Sees Large Growth in Short Interest

Equinix, Inc. (NASDAQ:EQIX) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,820,000 shares, a growth of 5.2% from the December 15th total of 1,730,000 shares. Based on an average daily volume of 494,100 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Truist Financial lifted their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Wells Fargo & Company upped their price target on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Three 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $976.81.

Equinix Trading Down 0.5 %

Shares of NASDAQ:EQIX traded down $4.30 during trading on Monday, reaching $915.59. 623,359 shares of the stock were exchanged, compared to its average volume of 411,459. The firm’s 50-day moving average price is $941.64 and its 200 day moving average price is $877.60. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $88.35 billion, a price-to-earnings ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. This trade represents a 9.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,412 shares of company stock worth $18,826,100. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EQIX. Verde Capital Management increased its position in shares of Equinix by 11.1% during the fourth quarter. Verde Capital Management now owns 2,191 shares of the financial services provider’s stock worth $2,065,000 after acquiring an additional 219 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its stake in Equinix by 3.6% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 5,947 shares of the financial services provider’s stock valued at $5,608,000 after purchasing an additional 205 shares in the last quarter. Mutual Advisors LLC increased its holdings in Equinix by 14.5% during the 4th quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 100 shares during the last quarter. Wendell David Associates Inc. raised its position in shares of Equinix by 38.9% in the 4th quarter. Wendell David Associates Inc. now owns 4,101 shares of the financial services provider’s stock valued at $3,867,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Phillips Wealth Planners LLC boosted its stake in shares of Equinix by 18.3% during the 4th quarter. Phillips Wealth Planners LLC now owns 725 shares of the financial services provider’s stock valued at $652,000 after buying an additional 112 shares during the last quarter. 94.94% of the stock is 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.