2,000 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the financial services provider’s stock, valued at approximately $1,775,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Eastern Bank raised its holdings in shares of Equinix by 4.7% in the third quarter. Eastern Bank now owns 17,143 shares of the financial services provider’s stock valued at $15,217,000 after acquiring an additional 765 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Equinix by 6.0% in the 3rd quarter. Signaturefd LLC now owns 1,357 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 77 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Equinix by 21.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,025 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 354 shares during the period. Kessler Investment Group LLC increased its holdings in Equinix by 15.7% during the third quarter. Kessler Investment Group LLC now owns 6,862 shares of the financial services provider’s stock valued at $6,091,000 after buying an additional 931 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Equinix by 8.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 756 shares of the financial services provider’s stock worth $671,000 after buying an additional 60 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 0.2 %

Shares of EQIX traded down $1.72 during mid-day trading on Tuesday, reaching $878.22. 98,021 shares of the stock traded hands, compared to its average volume of 526,790. The firm has a market cap of $83.35 billion, a price-to-earnings ratio of 88.43, a P/E/G ratio of 2.13 and a beta of 0.71. The stock has a fifty day simple moving average of $856.57 and a 200 day simple moving average of $798.32. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analyst Ratings Changes

EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $914.36.

Equinix Profile

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.