Renaissance Technologies LLC Purchases 13,900 Shares of Equinix, Inc. (NASDAQ:EQIX)

Renaissance Technologies LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 81.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,870 shares of the financial services provider’s stock after purchasing an additional 13,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Equinix were worth $23,356,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CNB Bank lifted its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Equinix during the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix in the 2nd quarter worth approximately $30,000. Rise Advisors LLC purchased a new stake in shares of Equinix in the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Equinix during the 2nd quarter valued at $36,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.7 %

Shares of NASDAQ:EQIX opened at $877.20 on Friday. The firm has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50 day moving average price of $820.42 and a 200-day moving average price of $793.28. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $8.04 EPS. As a group, equities research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EQIX. Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Royal Bank of Canada reduced their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $883.71.

Insider Buying and Selling at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. Corporate insiders own 0.27% of the company’s stock.

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.