Wall Street Zen Downgrades Equinix (NASDAQ:EQIX) to Sell

Key Points

• Wall Street Zen downgraded Equinix (NASDAQ: EQIX) from a "hold" to a "sell" rating in a recent investor note.
• Equinix has received mixed reviews from other analysts, with several maintaining "buy" ratings while others lowered their price targets significantly.
• Company CEO Adaire Fox-Martin sold nearly 3,000 shares, reflecting a 23.47% decrease in her ownership stake, amidst substantial recent trading activity among institutional investors.

Equinix (NASDAQ:EQIX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Guggenheim initiated coverage on shares of Equinix in a research note on Thursday, July 10th. They issued a "buy" rating and a $933.00 target price on the stock. Cowen reissued a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Wells Fargo & Company dropped their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. UBS Group dropped their price target on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Finally, Citigroup increased their price target on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $962.24.

Equinix Trading Up 0.8%

EQIX opened at $781.31 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company's 50 day simple moving average is $808.63 and its two-hundred day simple moving average is $844.01. Equinix has a 1-year low of $701.41 and a 1-year high of $994.03. The firm has a market capitalization of $76.46 billion, a price-to-earnings ratio of 76.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $9.22 EPS. The business's revenue was up 4.5% on a year-over-year basis. Analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the sale, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its position in shares of Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider's stock valued at $6,488,728,000 after purchasing an additional 8,154,365 shares during the last quarter. Norges Bank purchased a new stake in shares of Equinix in the 2nd quarter valued at approximately $892,431,000. GAMMA Investing LLC increased its position in shares of Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Equinix in the 1st quarter valued at approximately $662,663,000. Finally, Northern Trust Corp increased its position in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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