USA Financial Formulas Invests $342,000 in Equinix, Inc. (NASDAQ:EQIX)

USA Financial Formulas purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 363 shares of the financial services provider’s stock, valued at approximately $342,000.

Other institutional investors also recently modified their holdings of the company. Moseley Investment Management Inc. boosted its stake in Equinix by 17.2% during the 4th quarter. Moseley Investment Management Inc. now owns 668 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 98 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Equinix by 31.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 15 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Equinix by 10.3% during the 4th quarter. Park Avenue Securities LLC now owns 1,898 shares of the financial services provider’s stock worth $1,790,000 after acquiring an additional 178 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Equinix by 7.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 80 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Equinix by 9.5% during the 4th quarter. SeaCrest Wealth Management LLC now owns 574 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQIX. Scotiabank lifted their price objective on shares of 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. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three equities research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Equinix Stock Performance

Shares of EQIX opened at $919.89 on Friday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a fifty day simple moving average of $941.51 and a 200 day simple moving average of $874.47. The stock has a market capitalization of $88.76 billion, a price-to-earnings ratio of 82.95, a PEG ratio of 2.12 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Buying and Selling at Equinix

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