Short Interest in Equinix, Inc. (NASDAQ:EQIX) Rises By 25.9%

Equinix, Inc. (NASDAQ:EQIXGet Rating) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,250,000 shares, an increase of 25.9% from the May 31st total of 992,600 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 499,100 shares, the days-to-cover ratio is currently 2.5 days.

Shares of Equinix stock traded up $16.01 during trading on Monday, hitting $673.03. 14,719 shares of the stock were exchanged, compared to its average volume of 493,546. Equinix has a 12 month low of $606.12 and a 12 month high of $885.26. The stock has a market cap of $61.26 billion, a PE ratio of 124.18, a P/E/G ratio of 3.18 and a beta of 0.47. The stock’s fifty day moving average is $672.42 and its 200 day moving average is $715.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.91 and a current ratio of 1.91.

Equinix (NASDAQ:EQIXGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.46 by ($4.84). Equinix had a net margin of 7.25% and a return on equity of 4.57%. During the same period in the prior year, the firm posted $6.98 earnings per share. Sell-side analysts anticipate that Equinix will post 25.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th were issued a dividend of $3.10 per share. This represents a $12.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, May 17th. Equinix’s dividend payout ratio is currently 228.78%.

In other news, EVP Jonathan Lin sold 76 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $676.00, for a total value of $51,376.00. Following the sale, the executive vice president now directly owns 5,084 shares of the company’s stock, valued at approximately $3,436,784. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total transaction of $32,595.50. Following the completion of the sale, the director now directly owns 17,563 shares in the company, valued at $11,449,495.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,126 shares of company stock valued at $742,362. 0.32% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Equinix by 2.0% in the first quarter. Vanguard Group Inc. now owns 11,930,683 shares of the financial services provider’s stock worth $8,848,034,000 after purchasing an additional 228,639 shares in the last quarter. BlackRock Inc. raised its holdings in Equinix by 5.2% in the 4th quarter. BlackRock Inc. now owns 8,928,856 shares of the financial services provider’s stock valued at $7,552,383,000 after acquiring an additional 441,521 shares in the last quarter. State Street Corp grew its holdings in shares of Equinix by 8.7% during the 1st quarter. State Street Corp now owns 5,377,560 shares of the financial services provider’s stock worth $3,988,106,000 after purchasing an additional 430,704 shares in the last quarter. Capital International Investors grew its holdings in shares of Equinix by 2.9% during the 4th quarter. Capital International Investors now owns 2,575,828 shares of the financial services provider’s stock worth $2,178,713,000 after purchasing an additional 72,775 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Equinix by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,788,493 shares of the financial services provider’s stock worth $1,509,133,000 after purchasing an additional 61,992 shares in the last quarter. Institutional investors and hedge funds own 92.68% of the company’s stock.

Several research analysts have recently weighed in on EQIX shares. StockNews.com upgraded Equinix from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th. Argus cut their price objective on Equinix from $900.00 to $875.00 in a research report on Monday, March 7th. BMO Capital Markets lowered their price objective on Equinix from $825.00 to $770.00 in a research report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $780.00 to $785.00 and gave the stock a “buy” rating in a research note on Friday, April 8th. Finally, TheStreet cut Equinix from a “b-” rating to a “c+” rating in a research note on Monday, June 13th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $846.60.

About Equinix (Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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