Equinix (NASDAQ:EQIX) Price Target Cut to $669.00

Equinix (NASDAQ:EQIX - Free Report) had its target price cut by Barclays from $818.00 to $669.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Equinix from $910.00 to $925.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Morgan Stanley dropped their price objective on shares of Equinix from $767.00 to $762.00 and set an equal weight rating on the stock in a report on Thursday, March 28th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a buy rating in a report on Monday, March 18th. Stifel Nicolaus restated a buy rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Finally, Oppenheimer upped their target price on shares of Equinix from $875.00 to $950.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of Moderate Buy and an average target price of $862.50.

Equinix Stock Performance

Equinix stock traded down $7.58 on Wednesday, reaching $734.56. 510,802 shares of the stock were exchanged, compared to its average volume of 560,224. The firm has a fifty day moving average price of $840.28 and a two-hundred day moving average price of $802.23. Equinix has a twelve month low of $672.88 and a twelve month high of $914.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $69.50 billion, a PE ratio of 71.40, a PEG ratio of 1.78 and a beta of 0.58.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.32%. Equinix's dividend payout ratio is 165.28%.

Insiders Place Their Bets

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company's stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Charles J. Meyers sold 2,110 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,585 shares of company stock valued at $3,818,268. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

A number of large investors have recently modified their holdings of the stock. Braun Stacey Associates Inc. lifted its holdings in Equinix by 12.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider's stock valued at $25,938,000 after buying an additional 3,591 shares during the period. Nordea Investment Management AB lifted its holdings in Equinix by 9.8% in the fourth quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider's stock valued at $109,459,000 after buying an additional 12,129 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in Equinix by 127.8% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider's stock valued at $1,130,000 after buying an additional 787 shares during the period. TIAA Trust National Association lifted its holdings in Equinix by 126.8% in the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider's stock valued at $3,417,000 after buying an additional 2,372 shares during the period. Finally, DNB Asset Management AS lifted its holdings in Equinix by 20.3% in the fourth quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider's stock valued at $19,699,000 after buying an additional 4,132 shares during the period. 94.94% of the stock is currently 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.