HighPoint Advisor Group LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

HighPoint Advisor Group LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 595 shares of the financial services provider’s stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EQIX. QRG Capital Management Inc. bought a new position in Equinix in the 3rd quarter worth approximately $726,000. LPL Financial LLC boosted its position in shares of Equinix by 17.1% during the 3rd quarter. LPL Financial LLC now owns 24,081 shares of the financial services provider’s stock valued at $17,489,000 after acquiring an additional 3,520 shares during the last quarter. Mariner LLC boosted its position in shares of Equinix by 4.0% during the 3rd quarter. Mariner LLC now owns 64,264 shares of the financial services provider’s stock valued at $46,672,000 after acquiring an additional 2,454 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Equinix by 86.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,244 shares of the financial services provider’s stock valued at $8,892,000 after acquiring an additional 5,692 shares during the last quarter. Finally, Rice Partnership LLC boosted its position in shares of Equinix by 24.0% during the 3rd quarter. Rice Partnership LLC now owns 2,752 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 532 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Up 1.5 %

NASDAQ:EQIX opened at $773.84 on Thursday. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a 50 day moving average of $755.30 and a 200 day moving average of $802.91. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $73.45 billion, a price-to-earnings ratio of 77.62, a PEG ratio of 2.66 and a beta of 0.68.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.20%. Equinix’s payout ratio is 170.91%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EQIX shares. Truist Financial increased their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Oppenheimer raised their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $872.81.

Equinix Company 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.