Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 51.9% during the third quarter, Holdings Channel.com reports. The fund owned 4,100 shares of the financial services provider’s stock after acquiring an additional 1,400 shares during the period. Cornerstone Advisors LLC’s holdings in Equinix were worth $3,639,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI acquired a new position in shares of Equinix in the third quarter worth about $239,000. Altman Advisors Inc. purchased a new stake in Equinix during the 3rd quarter worth approximately $1,718,000. Grandfield & Dodd LLC purchased a new position in shares of Equinix during the 3rd quarter valued at approximately $233,000. First Horizon Advisors Inc. boosted its stake in shares of Equinix by 76.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 39 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Equinix by 19.8% during the third quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock worth $4,164,000 after buying an additional 774 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial boosted their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $952.88.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $918.94 on Thursday. The stock has a fifty day moving average of $889.31 and a 200-day moving average of $822.27. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The company has a market capitalization of $88.67 billion, a PE ratio of 82.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.