Miracle Mile Advisors LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Miracle Mile Advisors LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 43.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,575 shares of the financial services provider’s stock after purchasing an additional 3,839 shares during the period. Miracle Mile Advisors LLC’s holdings in Equinix were worth $11,856,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EQIX. Friedenthal Financial acquired a new position in shares of Equinix in the 4th quarter valued at $58,000. Bar Harbor Wealth Management increased its holdings in Equinix by 8.0% in the fourth quarter. Bar Harbor Wealth Management now owns 3,823 shares of the financial services provider’s stock valued at $3,605,000 after buying an additional 284 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Equinix in the fourth quarter worth about $209,000. Wedmont Private Capital boosted its stake in shares of Equinix by 7.3% during the 4th quarter. Wedmont Private Capital now owns 1,032 shares of the financial services provider’s stock worth $928,000 after acquiring an additional 70 shares in the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of Equinix during the 4th quarter valued at about $223,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Trading Down 0.0 %

Shares of NASDAQ EQIX traded down $0.18 during trading on Monday, hitting $899.65. 403,391 shares of the company were exchanged, compared to its average volume of 470,919. The company has a fifty day moving average price of $941.47 and a 200-day moving average price of $872.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $86.81 billion, a PE ratio of 81.12, a P/E/G ratio of 2.48 and a beta of 0.73. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock worth $7,906,218 in the last ninety days. 0.27% of the stock is owned by insiders.

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.