Verde Capital Management Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Verde Capital Management lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,972 shares of the financial services provider’s stock after acquiring an additional 216 shares during the period. Verde Capital Management’s holdings in Equinix were worth $1,750,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CNB Bank increased its holdings in shares of Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the second quarter worth about $30,000. LRI Investments LLC purchased a new position in shares of Equinix in the 1st quarter worth about $31,000. Meeder Asset Management Inc. bought a new position in shares of Equinix during the 2nd quarter valued at about $36,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI raised Equinix to a “strong-buy” rating in a research note on Wednesday, October 2nd. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $914.36.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred 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 transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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 Up 0.7 %

Shares of EQIX opened at $895.20 on Friday. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 89.79, a PEG ratio of 2.13 and a beta of 0.71. The firm’s 50-day moving average price is $855.35 and its 200-day moving average price is $797.57. 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 posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $8.04 EPS. Sell-side analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.90%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

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.