Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6,847.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,181 shares of the financial services provider’s stock after buying an additional 1,164 shares during the period. Prestige Wealth Management Group LLC’s holdings in Equinix were worth $1,048,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Equinix by 302.7% during the 3rd 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 purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares during the period. Adelante Capital Management LLC raised its holdings in shares of Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the last quarter. Principal Financial Group Inc. grew 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 worth $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position 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 valued at $238,133,000 after acquiring an additional 160,906 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

EQIX opened at $968.98 on Tuesday. The business has a fifty day simple moving average of $912.85 and a 200-day simple moving average of $840.99. The firm has a market cap of $93.50 billion, a PE ratio of 87.37, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.76%. Equinix’s dividend payout ratio is currently 153.65%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. This trade represents a 9.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares in the company, 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. In the last quarter, insiders have sold 8,398 shares of company stock worth $7,906,218. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on EQIX shares. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Scotiabank boosted their price target on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, TD Cowen raised their price objective 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. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $962.56.

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.