Wells Fargo & Company Cuts Equinix (NASDAQ:EQIX) Price Target to $1,075.00

Equinix (NASDAQ:EQIX) had its price objective decreased by Wells Fargo & Company from $1,100.00 to $1,075.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

EQIX has been the subject of several other reports. Scotiabank lifted their price target on shares of Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JMP Securities initiated coverage on Equinix in a report on Monday, January 27th. They issued an “outperform” rating and a $1,200.00 target price on the stock. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $996.06.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $938.34 on Tuesday. The stock has a market capitalization of $90.54 billion, a price-to-earnings ratio of 84.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The business’s fifty day moving average price is $940.14 and its two-hundred day moving average price is $889.47. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock valued at $15,530,564 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Institutional investors have recently modified their holdings of the company. Czech National Bank raised its holdings in shares of Equinix by 6.9% in the third quarter. Czech National Bank now owns 19,341 shares of the financial services provider’s stock valued at $17,168,000 after purchasing an additional 1,256 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Equinix by 32.2% in the third quarter. GAMMA Investing LLC now owns 891 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 217 shares during the period. Fulton Bank N.A. acquired a new position in shares of Equinix in the third quarter valued at approximately $229,000. Mather Group LLC. increased its position in Equinix by 1.2% during the third quarter. Mather Group LLC. now owns 1,266 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 15 shares during the period. Finally, Bath Savings Trust Co increased its position in Equinix by 6.3% in the 3rd quarter. Bath Savings Trust Co now owns 9,197 shares of the financial services provider’s stock valued at $8,164,000 after acquiring an additional 542 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Company Profile

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.