Equinix (NASDAQ:EQIXGet Rating) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, The Fly reports.

Several other research firms have also weighed in on EQIX. BMO Capital Markets lowered their price objective on shares of Equinix from $825.00 to $770.00 in a research note on Thursday, May 26th. The Goldman Sachs Group lowered their price target on Equinix from $875.00 to $765.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Credit Suisse Group decreased their target price on shares of Equinix from $718.00 to $716.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Equinix from $785.00 to $750.00 in a research note on Thursday, July 28th. Finally, Wells Fargo & Company decreased their target price on shares of Equinix from $775.00 to $760.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $818.75.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $609.26 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.38. Equinix has a 12-month low of $606.12 and a 12-month high of $868.82. The firm has a market cap of $55.49 billion, a PE ratio of 86.67, a PEG ratio of 2.64 and a beta of 0.49. The company’s 50 day moving average price is $663.36 and its two-hundred day moving average price is $682.54.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 3,356 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total value of $2,383,263.40. Following the transaction, the insider now directly owns 17,284 shares of the company’s stock, valued at $12,274,232.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 3,356 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the transaction, the insider now directly owns 17,284 shares in the company, valued at approximately $12,274,232.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,000 shares of Equinix stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $713.17, for a total value of $713,170.00. Following the sale, the insider now directly owns 11,044 shares of the company’s stock, valued at $7,876,249.48. The disclosure for this sale can be found here. Insiders sold a total of 4,808 shares of company stock valued at $3,394,370 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Trust Co. NA bought a new position in shares of Equinix in the second quarter valued at $135,000. Amundi boosted its holdings in shares of Equinix by 3.7% in the 2nd quarter. Amundi now owns 463,553 shares of the financial services provider’s stock worth $288,174,000 after buying an additional 16,355 shares during the last quarter. Verition Fund Management LLC bought a new position in Equinix during the second quarter valued at about $434,000. M&G Investment Management Ltd. boosted its stake in Equinix by 49.3% in the second quarter. M&G Investment Management Ltd. now owns 231,659 shares of the financial services provider’s stock valued at $152,200,000 after acquiring an additional 76,470 shares during the last quarter. Finally, Prelude Capital Management LLC increased its stake in shares of Equinix by 147.7% during the 2nd quarter. Prelude Capital Management LLC now owns 3,468 shares of the financial services provider’s stock worth $2,279,000 after purchasing an additional 2,068 shares during the last quarter. 93.82% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Equinix (NASDAQ:EQIX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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