Strong Tower Advisory Services Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Strong Tower Advisory Services lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 656 shares of the financial services provider’s stock after purchasing an additional 44 shares during the period. Strong Tower Advisory Services’ holdings in Equinix were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Equinix during the 1st quarter worth about $294,526,000. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. M&G Plc purchased a new stake in shares of Equinix during the first quarter worth about $187,089,000. Finally, Quadrature Capital Ltd purchased a new position in Equinix in the 1st quarter valued at about $145,308,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQIX. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Evercore ISI upgraded Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $903.80.

Insider Activity

In other Equinix news, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.2 %

EQIX traded down $2.14 during mid-day trading on Friday, hitting $868.40. 74,182 shares of the stock were exchanged, compared to its average volume of 531,149. The firm’s fifty day moving average is $845.11 and its two-hundred day moving average is $794.61. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a market cap of $82.45 billion, a PE ratio of 79.72, a PEG ratio of 2.13 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.04 EPS. Equities analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 156.04%.

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.