Bamco Inc. NY Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Bamco Inc. NY increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 242,133 shares of the financial services provider’s stock after purchasing an additional 50,913 shares during the period. Bamco Inc. NY’s holdings in Equinix were worth $214,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Adelante Capital Management LLC grew its stake in Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Equinix by 14.5% in the 2nd 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 acquiring an additional 238,883 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after purchasing an additional 160,906 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX opened at $981.48 on Monday. The firm has a market cap of $94.70 billion, a price-to-earnings ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s 50-day moving average price is $902.59 and its 200 day moving average price is $833.34. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 44.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock valued at $11,666,756 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EQIX shares. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $962.56.

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.