Equinix (NASDAQ:EQIX) Shares Cross Below 200-Day Moving Average – Should You Sell?

by · The Markets Daily

Equinix, Inc. (NASDAQ:EQIX – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $1,012.18 and traded as low as $988.07. Equinix shares last traded at $997.35, with a volume of 999,269 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQIX. Cantor Fitzgerald restated an “overweight” rating and set a $1,211.00 target price on shares of Equinix in a report on Thursday, October 29th. Sanford C. Bernstein upped their price target on Equinix from $1,222.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Raymond James Financial reissued a “strong-buy” rating and set a $1,250.00 price objective on shares of Equinix in a report on Thursday, October 29th. Rothschild & Co Redburn began coverage on Equinix in a research note on Monday, September 21st. They issued a “buy” rating and a $1,261.00 price objective on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $1,340.00 target price (up from $1,300.00) on shares of Equinix in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,234.13.

Get Our Latest Stock Report on Equinix

Equinix Stock Up 1.5%

The stock has a market cap of $99.92 billion, a P/E ratio of 60.82, a P/E/G ratio of 1.41 and a beta of 0.98. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. The firm’s fifty day moving average is $1,016.72 and its 200 day moving average is $1,013.32.

Equinix (NASDAQ:EQIX – Get Free Report) last released its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.56 billion. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 EPS. As a group, equities research analysts forecast that Equinix, Inc. will post 39.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be issued a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix’s dividend payout ratio (DPR) is 123.96%.

Insider Buying and Selling at Equinix

In other news, insider Kurt Pletcher sold 135 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the completion of the sale, the insider directly owned 4,077 shares of the company’s stock, valued at approximately $4,384,813.50. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total value of $137,947.50. Following the completion of the sale, the director directly owned 13,734 shares of the company’s stock, valued at $15,156,567.72. This represents a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 770 shares of company stock valued at $807,077 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of Equinix by 4.6% during the 3rd quarter. Allworth Financial LP now owns 2,791 shares of the financial services provider’s stock worth $2,910,000 after purchasing an additional 123 shares during the period. Eurizon Capital SGR S.p.A. raised its position in shares of Equinix by 27.5% during the third quarter. Eurizon Capital SGR S.p.A. now owns 40,027 shares of the financial services provider’s stock valued at $40,518,000 after buying an additional 8,623 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators raised its position in shares of Equinix by 5.8% during the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 25,930 shares of the financial services provider’s stock valued at $26,230,000 after buying an additional 1,427 shares during the last quarter. Van Strum & Towne Inc. bought a new stake in shares of Equinix in the third quarter valued at about $200,000. Finally, Fifth Third Bancorp lifted its stake in shares of Equinix by 4.3% in the third quarter. Fifth Third Bancorp now owns 6,283 shares of the financial services provider’s stock valued at $6,356,000 after buying an additional 261 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

(Get Free Report)

Featured Articles